Jefferies raises PT on Middleby, sees major shifts in 2026
15/01/2026 13:17
** Jefferies raises PT on food processing equipment maker Middleby MIDD.O to $180 from $175, reiterates "buy" rating ** New PT represents a 16.8% upside to stock's last close ** Says major changes are expected in 2026, with co's residential joint venture closing in the first quarter, pending approvals, and food processing separation targeted for the first half ** Adds despite third-quarter sales growth, MIDD to see sales decline in Q4 2025 "reflecting choppiness in chain activity vs. a change in overall demand conditions" ** 7 of 10 brokerages rate stock "buy" or higher and 3 "hold"; median PT is $168 - data compiled by LSEG ** MIDD gained 10.6% in 2025 (Reporting by Megavarshini G. Somasundaram in Bengaluru) ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))