Barclays lowered the firm’s price target on Middleby (MIDD) to $165 from $180 and keeps an Overweight rating on the shares as part of a Q2 preview for the machinery and construction group. The firm sees a high bar for the sector after a quarter of share outperformance. Investors are skewed away from aggregates and agriculture and more positive on machinery and construction, the analyst tells investors in a research note.
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