** 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))
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