Middleby price target raised to $180 from $160 at Barclays

Barclays raised the firm’s price target on Middleby (MIDD) to $180 from $160 and keeps an Overweight rating on the shares following the Q4 report. The shares have long been undervalued, and the series of actions taken by Middleby, including the separation, buybacks, and new oversight, along with stable results “should support a long overdue rerate,” the analyst tells investors in a research note.