I shared a bullish perspective on Middleby Corp. (NASDAQ:MIDD) in late November, with a thesis that the market hasn't been properly appreciating a major growth driver, its Food Processing business. On 2/27 the company reported an outstanding 4th quarter. This follows a very exciting acquisition of Viking at year-end, which the company announced on 12/31 as it closed. The stock has performed very well following the deal announcement, reaching an all-time high today near 155 following its earnings release. While I am quite optimistic that this exceptional company will perform well over the long term, three specific issues leave me cautious fundamentally in the near term. After the recent run, I would expect the stock to consolidate:...
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