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Fly News Breaks for August 15, 2017
MIDD
Aug 15, 2017 | 08:44 EDT
BMO Capital analyst Joel Tiss says that Middleby's lower than expected sales for the last two quarters have created a buying opportunity for longer term investors. He thinks that sales are being delayed because it is taking time for buyers to customize Middleby's offerings and get approval for the high prices of Middleby's products which are "more revolutionary" than those of its competitors. Tiss expects the company's organic growth to accelerate sharply toward the end of this year and through 2019. He keeps a $150 price target and an Outperform rating on the stock.
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