Middleby price target lowered to $165 from $181 at Seaport Research

Seaport Research lowered the firm’s price target on Middleby (MIDD) to $165 from $181 and keeps a Buy rating on the shares. The firm’s investment thesis has changed and is now looking at the stock as a value investment with a possibility for recovery in 2025, the analyst tells investors. The firm believes there is value in the shares, given the valuation multiple below its food equipment peer group and broader diversified industrial peer groups, the firm adds.