Middleby rises as Jefferies lifts to 'buy', hikes PT

Food processing equipment maker Middleby's MIDD.O shares up 2.2% at about $132 premarket

Jefferies upgrades rating to "buy" from "hold", lifts PT to $175 from $130

New PT shows an upside of 35.7% from the stock's last close

Brokerage states co's Commercial Foodservice business is expected to deliver strong growth driven by organic expansion, better margins, and share repurchases

Organic growth in Commercial Foodservice is crucial for a stock re-rating, though timing remains uncertain amid temporary industry headwinds, says Jefferies

Brokerage lifts co's 2025 EPS forecast to $9.08 per share from $9.06/shr, but cuts 2026 forecast to $9.23/shr from $9.48/shr

Average of 10 brokerages rate the stock "hold"; their median PT is $165.50 - data compiled by LSEG

YTD, shares down 4.8%