36.7

Sales growth for Middleby has averaged 22% annually over the past five years, versus 15% for the industry. A positive surprise could send the shares above 80.

Cause

Outperform - Price 57.60 on Aug. 12
by Baird Securities

MIDD has entered an agreement to acquire TurboChef (OVEN), maker of residential and commercial ovens, for $6.47 a share ($3.67 cash, 0.0486 shares of MIDD stock), a 30% premium over its 20-day trading average...subject to...approval and normal closing conditions; expected to close 4Q08. Total purchase price is approximately $200 million....The deal values OVEN at about 1.8 times [long-term] sales. OVEN specializes in speed-cooking solutions...and counts Dunkin' Donuts, Subway and Starbucks as key customers. Middleby is a leading global manufacturer of "hot-side" [food-preparation equipment]. Target: 81. Market cap: $990 million.

22

22

Growing markets for cost effective ovens.

great ceo

8.5

growth potential