Jefferies analyst Saree Boroditsky upgraded Middleby (MIDD) to Buy from Hold with a price target of $175, up from $130. The firm says the “new” Middleby should compound earnings through a combination of low-single-digit organic growth, margin improvement, and share buybacks. Jefferies sees a “clear recovery” in commercial foodservice demand, which it believes should be a key catalyst to drive the stock higher.
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