Middleby price target raised to $164 from $149 at Canaccord

Canaccord raised the firm’s price target on Middleby to $164 from $149 and keeps a Buy rating on the shares. The firm said it recently surveyed 40 CFS dealers and continue to find no issues at the dealer level, leading us to believe the issue is likely at the distributor level, which is harder to track however they came away incrementally encouraged.