Mettler-Toledo Reports Strong 4Q and Full-Year Results; Shares Remain Expensive
Narrow-moat Mettler-Toledo wrapped up a solid 2017 with fourth-quarter and full-year results beating our top-line expectations. The full-year 8% increase in local currency sales was driven by a favorable economic environment in all main markets. On the margin line, Mettler met our expectations for continuous improvement with 50 basis points over the prior year. We plan to raise our fair value estimate to account for the strong 2017 top-line results and improved 2018 outlook. However, the shares ...
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