Roth Capital Maintains Buy On Middleby Following Investors Meeting
In a research report issued today, Roth Capital analyst Anton Brenner maintained a Buy rating on Middleby (NASDAQ:MIDD) with a price target of $115, following investors meeting with Selim Bassoul, CEO.
Brenner said, “We recently visited institutional investors with Selim Bassoul, CEO. Discussions focused on growth opportunities in each of MIDD’s three business segments — Commercial Foodservice, Food Processing and Residential Kitchen Equipment. We strongly believe that implementation of these opportunities should lead to an acceleration in sales and earnings growth over the next three to five years from historical levels.” The analyst added, “We believe that organic sales growth, bolstered by occasional acquisitions, should accelerate in each of Middleby’s platforms over the next three to five years. We anticipate that annual net income growth will accelerate sustainably to 25% from the historical 20% rate.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Anton Brenner has a total average return of 9.0% and a 53.6% success rate. Brenner has a -10.6% average return when recommending MIDD, and is ranked #886 out of 3293 analysts.