Middleby Price Target Cut by JPMorgan Chase & Co. Analysts
Analysts at JPMorgan Chase & Co. have reduced their price target for Middleby (NASDAQ:MIDD) to $141.00, representing a potential upside of 20.72% from its current price of $116.80. This move follows the company's recent second-quarter earnings report, which exceeded consensus estimates.
Middleby reported revenue of $875.5 million and adjusted EPS of $2.35 for the quarter, beating analysts' expectations of approximately $837 million and $2.09, respectively. Despite this success, the company's guidance for 2026 calls for adjusted EPS of $6.73, $6.89 and revenue of $2.48, $2.53 billion, which falls below consensus estimates.
The stock has been trading with a neutral rating from JPMorgan Chase & Co., and multiple other research firms have also issued their own predictions for Middleby's future performance. KeyCorp set a target price of $152.00 on shares of Middleby, while Jefferies Financial Group reduced its price objective to $160.00 and maintained a 'buy' rating.