BofA Securities Reiterates Buy Rating on Jabil (JBL)

BofA Securities analyst Ruplu Bhattacharya reiterated a Buy rating and $135.00 price target on Jabil (NYSE: JBL).

The analyst comments "Jabil reports F4Q24 before market opens on Thur Sep 26th, which will also coincide with the company's annual investor briefing. Investor focus will likely center around the guidance for F25. Given the weaker macro in the n-t, and the fact that Jabil to start off with $2.5bn lower rev base vs F24 (Mobility business divestiture, and portfolio reshaping away from $800mn of less attractive legacy programs, including legacy networking), we expect a F25 rev guide in the range of $27.0-27.5bn, and EPS guide in the range of $8.50-9.00. As end markets including semicap expected to recover in F25, our estimates could prove conservative, and we see the opportunity for Jabil to drive above $9.00 in earnings. L-t growth drivers include electric vehicles, energy storage, cloud, renewables and digital health. Shares are down 13% YTD and options are indicating a 7% 1-day move. We think any pullback in shares post earnings would offer opportunity. Reiterate Buy on large scale, capital returns, improving margins and strong cash flow."

For an analyst ratings summary and ratings history on Jabil click here. For more ratings news on Jabil click here.

Shares of Jabil closed at $110.86 yesterday.

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