When an investor is watching a great growth story from the wrong side of the glass, there's little to do but hope for the occasional stumble to create a buying opportunity. Fast-growing food service equipment company Middleby (MIDD) stubbornly refuses to cooperate, though, as management's consistent execution has created relatively few pullbacks in recent times. Given the company's dual focus on strong internal product development and strategic M&A, not to mention the large addressable markets left unexplored (both geographically and product-oriented), it's tempting to make a "forget the valuation" call with Middleby. At a minimum, this is a stock to monitor just in case one of those rare pullbacks comes.
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