Needham & Company Cuts Price Target and Estimates on Jabil Circuit (JBL) on Soft Near-Term Guidance
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Price: $19.22 -1.74%
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade JBL Now!
Needham & Company reiterates a 'Buy' on Jabil Circuit (NYSE: JBL) price target of $25.00 (from $29.00).
Analyst, S ean K.F. Hannan, said, "JBL appears to be facing an Aug. speed bump as RIM (Nasdaq: RIMM) creates disruption, macro pressures prevent E&I from exhibiting growth, and as DMS could be experiencing a slight timing delay (speculatively) ahead of a new ramp with Apple (Nasdaq: AAPL). While estimates are reduced, we remain positive on the 12-18 month prospects once the near-term hurdles are cleared and additional growth (revs. and margins) is sourced by new customers and platforms already in the pipeline (such as Medical)."
FY12 EPS estimate cut from $2.28 to $2.13 and FY13 from $2.69 to $2.55
For an analyst ratings summary and ratings history on Jabil Circuit click here. For more ratings news on Jabil Circuit click here.
Shares of Jabil Circuit closed at $19.42 yesterday, with a 52 week range of $13.94-$27.40.
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Analyst, S ean K.F. Hannan, said, "JBL appears to be facing an Aug. speed bump as RIM (Nasdaq: RIMM) creates disruption, macro pressures prevent E&I from exhibiting growth, and as DMS could be experiencing a slight timing delay (speculatively) ahead of a new ramp with Apple (Nasdaq: AAPL). While estimates are reduced, we remain positive on the 12-18 month prospects once the near-term hurdles are cleared and additional growth (revs. and margins) is sourced by new customers and platforms already in the pipeline (such as Medical)."
FY12 EPS estimate cut from $2.28 to $2.13 and FY13 from $2.69 to $2.55
For an analyst ratings summary and ratings history on Jabil Circuit click here. For more ratings news on Jabil Circuit click here.
Shares of Jabil Circuit closed at $19.42 yesterday, with a 52 week range of $13.94-$27.40.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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