UPDATE: Jefferies Lowers PT on Mettler-Toledo from $205 to $190

Jefferies maintained a Buy rating on Mettler-Toledo

and lowered its price target from $205 to $190. Jefferies commented, “MTD's 2Q12 EPS of $2.15 was $0.01 above consensus on better profitability trends. We are lowering our 2012 & 2013 EPS forecasts to $9.25 (from $9.40) and $10.35 (from $10.50), respectively, on the reality of a weaker operating environment. Our PT moves to $190 (from $205) on lower cash flow forecasts.” Mettler-Toledo closed at $155.07 on Thursday.