Jabil Circuit (JBL): Cautious On 2017 Guidance - Needham
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Needham & Company analyst, Sean Hannan, reiterated his Buy rating on shares of Jabil Circuit (NYSE: JBL) but is cautious going into JBL's F4Q report. Shares of JBL have recovered in recent weeks as the iPhone 7 launch is underway and news of initial orders has been encouraging.
The analyst stated "We acknowledge we're on record with a conservative model for F17. We believe EMS is doing generally OK, with AAPL the big wild card. However, we are cautious as we believe the possibility for some element of a strategic pivot in F17 remains". No change to the price target of $23.
Shares of Jabil Circuit closed at $23.14 yesterday.
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