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Fly News Breaks for June 17, 2016
MIDD
Jun 17, 2016 | 10:31 EDT
After Middleby was mentioned negatively by Grants Interest Rate Observer yesterday, CL King noted in a new note to investors that Middleby received a clean bill of health in its most recent annual check-up in March from its auditor, Ernst & Young. There is a "certain amount of discretion in accounting," the firm notes, but it believes goodwill, intangibles, and the like have been allocated appropriately and that Middleby and its auditors follow proper accounting rules. The firm has a Buy rating and $141 price target on Middleby shares.
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