JBT Marel initiated with an Outperform at Oppenheimer

Oppenheimer analyst Ian Zaffino initiated coverage of JBT Marel (JBTM) with an Outperform rating and $175 price target The company offers a “unique combination” of secular growth, high-margin recurring revenues, and strong free cash flow generation, the analyst tells investors in a research note. The firm says JBT’s protein solutions segment is a leader in protein processing equipment while its prepared foods and beverage Solutions segment holds “market-leading” positions in downstream value-added preparation, preservation, and packaging of ready-to-eat foods and drinks.