Middleby falls after Jefferies downgrades to 'hold', cuts PT

The Middleby

12/12/2024 15:55

(Updates)
    ** Shares of cooking equipment maker Middleby  MIDD.O  fall
3.5% to $139.62 in early trade
  
    ** Brokerage Jefferies downgrades company's shares to "hold"
from "buy", cuts PT to $160 from $170
    ** Brokerage notes that MIDD stock, currently trading at 11
times its next twelve-month EBITDA, appears substantially
discounted and adds that company lacks a clear expansion path
    ** Six of nine brokerages rate the stock "buy" or "higher",
two "hold" and one "sell"; with a median PT of $160, according
to data compiled by LSEG
    ** As of last close, shares down about 2% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))