BUZZ-Middleby rises as Jefferies lifts to 'buy', hikes PT

Reuters12-10

** Food processing equipment maker Middleby's MIDD.O shares up 2.2% at about $132 premarket

** Jefferies upgrades rating to "buy" from "hold", lifts PT to $175 from $130

** New PT shows an upside of 35.7% from the stock's last close

** Brokerage states co's Commercial Foodservice business is expected to deliver strong growth driven by organic expansion, better margins, and share repurchases

** Organic growth in Commercial Foodservice is crucial for a stock re-rating, though timing remains uncertain amid temporary industry headwinds, says Jefferies

** Brokerage lifts co's 2025 EPS forecast to $9.08 per share from $9.06/shr, but cuts 2026 forecast to $9.23/shr from $9.48/shr

** Average of 10 brokerages rate the stock "hold"; their median PT is $165.50 - data compiled by LSEG

** YTD, shares down 4.8%

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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