JP Morgan Downgrades Middleby to Underweight, Lowers Price Target to $118
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Tami Zakaria has downgraded Middleby (NASDAQ:MIDD) from Neutral to Underweight and lowered the price target from $145 to $118.
May 22, 2024 | 12:01 pm
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NEGATIVE IMPACT
JP Morgan has downgraded Middleby from Neutral to Underweight and reduced the price target from $145 to $118, indicating a bearish outlook.
The downgrade from Neutral to Underweight and the significant reduction in the price target from $145 to $118 by a major financial institution like JP Morgan is likely to negatively impact investor sentiment and the stock price of Middleby in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100