Jefferies downgraded Middleby (MIDD) to Hold from Buy with a price target of $160, down from $170. For Middleby, the firm sees “muted” commercial and residential growth and limited visibility into a multiple re-rating. More broadly for the group, the firm sees a recovery in manufacturing sentiment, bolstered by the potential for lower interest rates, reduced corporate taxes, and deregulation.
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Read More on MIDD:
- Middleby acquires Gorreri Food Processing Technology, terms undisclosed
- Middleby price target lowered to $165 from $181 at Seaport Research
- Middleby acquires JC Ford, terms undisclosed
- Middleby price target lowered to $155 from $164 at Canaccord
- Middleby Corporation Navigates Economic Challenges with Strategic Focus
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