Baird analyst Mircea Dobre keeps an Outperform rating with a $145 price target on JBT Corp. (JBT) after the Marel shareholder vote passed with the transaction settlement expected on January 2.

JBT Marel Corporation completed the settlement of its voluntary takeover of Marel hf., with the combined entity commencing trading under the ticker symbol ‘JBTM’ on the NYSE and Nasdaq Iceland.

The combined company’s expected revenues (per JBT’s S-4 filing) run to $4 billion and the adjusted EBITDA margin is expected at more than 16%. Within three years of the completion of the ...