Middleby price target raised to $160 from $140 at Jefferies

Jefferies analyst Saree Boroditsky raised the firm’s price target on Middleby to $160 from $140 and keeps a Buy rating on the shares. The firm sees “modest growth” in Commercial Foodservice/Food Processing into 2024 and a recovery in Residential in the second half on easy comparisons, while adding that it views earnings risks as “baked into the stock at these levels.”