KeyBanc Reiterates Overweight Rating on Middleby Corp (MIDD)

KeyBanc analyst Jeffrey Hammond reiterated an Overweight rating and $175.00 price target on Middleby Corp (NASDAQ: MIDD).

The analyst commented: "Focusing on the Core with Residential Kitchen JV Announced; Following MIDD's announcement of its intention to sell a majority stake of the RK segment to 26North, we reiterate our OW rating and $175 PT. We view the RK deal as a much welcomed catalyst for shares/valuation in a name that has under performed for multiple years. While some may question the timing of the deal, we believe the JV structure offers substantial upside as RK markets improve over time. Although CFS fundamentals are likely to remain challenged into 1H26, we feel shares significantly underappreciate MIDD's reinforced focus on the Core and refined capital allocation strategy."

For an analyst ratings summary and ratings history on Middleby Corp click here. For more ratings news on Middleby Corp click here.

Shares of Middleby Corp closed at $125.86 yesterday.

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