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Fly News Breaks for January 13, 2016
MIDD
Jan 13, 2016 | 06:51 EDT
Macquarie analyst James Clement upgraded Middleby to Outperform and named it a top SMID-cap industrial growth pick. Clement said shares have been weak on transitory issues and is unwarranted. The analyst expect sales to restaurant chains and convenience stores to remain strong for the foreseeable future and that Middleby will post much better Processing segment results in first half 2016 versus the last four reported quarters and for earnings growth to reaccelerate. Clement has a $120 price target on Middleby shares.
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