Jabil Circuit (JBL): Multiple Should Expand On $3 FY19 EPS - UBS
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UBS analyst, Steve Milunovich, reiterated his Buy rating on shares of Jabil Circuit (NYSE: JBL) along with a price target of $27. Jabil hosted its first analyst meeting in four years, laying out financial targets for F19.
The analyst believes Flex and now Jabil should warrant a higher multiple as investors appreciate customer diversification, higher margins, increased free cash flow, likely better Apple revenue, and a broadening customer base.
Guidance for non-GAAP EPS of $3.00 in F19 is believable and supports a price target of $27 in the next year.
Shares of Jabil Circuit closed at $21.92 yesterday.
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