Middleby price target lowered to $150 from $180 at JPMorgan

JPMorgan analyst Tami Zakaria lowered the firm’s price target on Middleby (MIDD) to $150 from $180 and keeps a Neutral rating on the shares. The firm adjusted targets in the machinery and waste services space as part of a Q1 preview. Class 8 truck orders data year-to-date suggests upside potential for back half of 2026 estimates across the truck group while the outlook for global construction equipment remains positive, the analyst tells investors in a research note. JPMorgan believes the agriculture end markets “remain choppy” with Brazil biased to the downside, North America retail sales modestly deteriorating in recent months, and Europe improving.