Canaccord raised the firm’s price target on Middleby (MIDD) to $203 from $187 and keeps a Buy rating on the shares. The firm said they reported Q4 results that reflected Residential Kitchen as discontinued operations, while firm estimates and consensus’ included it. With the spinoff coming by the end of Q2 and Residential now in a JV, they believe renewed management focus on its crown jewel CFS business should support an expeditious turnaround.
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