Middleby price target raised to $166 from $164 at Canaccord

Canaccord analyst Brian McNamara raised the firm’s price target on Middleby to $166 from $164 and keeps a Buy rating on the shares. The firm said they reported Q4 results that missed slightly on the top line while profitability metrics came in above consensus expectations. Canaccord believes directional guidance was good enough and leaves room for upside.