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

The Middleby

12/12/2024 14:25

** Cooking equipment maker Middleby's  MIDD.O  shares fall 1.2%
to $142.89 premarket
    ** Brokerage Jefferies downgrades company's shares to "hold"
from "buy" and cuts PT to $160 from $170
    ** Brokerage indicates that MIDD stock, trading at 11x NTM
EBITDA, is substantially discounted and adds that company lacks
a clear expansion pathway
    ** 6 of 9 brokerages rate the stock "buy" or "higher", 2
"hold" and 1 "sell"; median PT $160 - LSEG
    ** As of last close, shares down ~2% YTD

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