** Cooking equipment maker Middleby's shares fall 1.2% to $142.89 premarket

** Brokerage Jefferies downgrades company's shares to "hold" from "buy" and cuts PT to $160 from $170

** Brokerage indicates that MIDD stock, trading at 11x NTM EBITDA, is substantially discounted and adds that company lacks a clear expansion pathway

** 6 of 9 brokerages rate the stock "buy" or "higher", 2 "hold" and 1 "sell"; median PT $160 - LSEG

** As of last close, shares down ~2% YTD

(Reporting by Rupali Chaudhary in Bengaluru) ((Rupali.Chaudhary@thomsonreuters.com))