Jabil's Strong Outlook Hinges On Growth In Key Markets: Analyst's Spotlight On AI-focused Business
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Matthew Sheerin reiterated a Buy rating on Jabil Inc. (NYSE:JBL), raising the price target to $135 from $120. Jabil's Q4 FY23 revenue was $8.46 billion, slightly below the consensus estimate. The company's FY24 outlook includes growth in key segments such as auto/transport, industrial, healthcare, and cloud. Jabil plans to spend $2.5 billion in share repurchases, which is expected to drive double-digit EPS growth in FY24 and FY25.
September 29, 2023 | 7:09 pm
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POSITIVE IMPACT
Jabil's strong FY24 outlook and planned share repurchases are expected to drive growth, leading to a raised price target by Stifel analyst.
The raised price target and positive outlook from the Stifel analyst, along with Jabil's planned share repurchases, indicate a positive short-term impact on the company's stock. The company's focus on growth in key segments and working capital improvements also contribute to this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100