JBT Marel gains after Jefferies upgrades rating to 'buy'

Shares of food and beverage process firm JBT Marel Corp JBTM.N rise 1.2% to $139.49 premarket

Jefferies upgrades stock to "buy" from "hold" rating

Jefferies expects 20% earnings growth through 2027, driven by food processing recovery especially poultry and Marel cost synergies

Brokerage says acquisitions are likely to pick up after 2026 with scope to expand into further processing, prepared foods and packaging to diversify the business

Jefferies raises PT to $180 from $150, representing 26.5% upside to stock's last close

Co is well-positioned to benefit from population growth and a rising middle class, with steady food and beverage demand- adds brokerage

Five of six brokerages rate the stock "buy" or higher, and one "sell"; their median PT is $169 - data compiled by LSEG

Up to last day's close, stock up 8.4% YTD