Jabil (JBL) Stock: $90 Price Target From Citi

By Amit Chowdhry ● Mar 18, 2022
  • The shares of Jabil (NYSE: JBL) have received a $90 price target from Citi. These are the details.

The shares of Jabil (NYSE: JBL) have received a $90 price target from Citi. And Citi analyst Jim Suva added Jabil to the firm’s U.S. focus list.

At the time of the research note being published, Suva noted that JBL shares were down over 20% from the all-time high set less than 3 months ago. So Suva saw this as an attractive opportunity due to the recent pullback.

“We see Jabil’s top customer, Apple, at 22% of total sales and strength in new business ramps from Amazon and other cloud providers as providing more demand than supply for at least the next year,” wrote Suva in a research note. “Our call is also that Jabil, as well as the entire EMS industry, should see higher operating margins given the shift to more localized production as EMS customers focus less on aggressive pricing and more on optimal supply chains that no longer rely on just in time order and production. We model this quarter EPS +3% above consensus.” 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.