Middleby price target raised to $184 from $175 at Seaport Research

Seaport Research raised the firm’s price target on Middleby to $184 from $175 and keeps a Buy rating on the shares ahead of the Q1 report. The analyst likes the Middleby story due to the business model of acquisition deals and margin improvement. Additionally, the commercial end markets of foodservice and food processing are cyclically stable with outlooks for profitable growth, the analyst tells investors in a research note. At this point, Seaport believes investors can buy the stock and get the residential segment for free.