Buckingham analyst James Clement maintained a Neutral rating and $115 price target on The Middleby Corporation (MIDD), telling investors in a research note that his chief concern are earnings estimates that he thinks are "still a little too high" in the near-term. While he thinks commercial foodservice is showing signs of improvement, Clement says he has no visibility on any potential improvements in large Processing orders and is concerned organic sales could decline in proportion with the 28.7% decline seen in Q1. Clement says he prefers Welbilt (WBT) at this time due to its "pure play" commercial foodservice exposure.