- Middleby Corp MIDD price target was lowered to $190 (an upside of 19%) from $215 by Citi analyst Timothy Thein.
- Meanwhile, the analyst maintained the Buy rating on the shares.
- Thein reduced Middleby's first half of 2022 margin view citing raw material and supply chain/logistics cost inflation that shows minor reduction signs.
- As a result, Middleby and many of its commercial foodservice competitors have raised prices.
- The analyst believes the stock's recent de-rating makes for a more compelling risk/reward.
- Price Action: MIDD shares are trading lower by 0.78% at $160.23 on Monday's last check.
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