Roth Capital Reiterates Buy On The Middleby Shares, $115 PT
In a research report published today, Roth Capital analyst Anton Brenner reiterated a Buy rating on The Middleby (NASDAQ:MIDD) with a price target of $115.00, which represents a potential upside of 29% from where the stock is currently trading.
Brenner wrote, “A completely revised new product line, priced at premium levels, is being introduced. We expect that Viking’s EBITDA, only 10% of sales when acquired, will exceed 20% in 2015, as should Food Processing equipment for the first time. We continue to look for an acceleration in MIDD’s sustained earnings growth rate over the next several years.”
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 10.5% and a 62.9% success rate. Brenner has a -6.9% average return when recommending MIDD, and is ranked #585 out of 3354 analysts.