Middleby price target lowered to $159 from $166 at Canaccord

Canaccord lowered the firm’s price target on Middleby to $159 from $166 and keeps a Buy rating on the shares. The firm said they reported Q1 results that missed across the board. Canaccord lowered their estimates to account for the Q1 miss and directional guidance for the balance of the year, which calls for improving trends sequentially.