Jabil (JBL) Ramps for iPhone 5 Fueled Comeback

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Electronic manufacturing services company, Jabil Circuit, Inc. (NYSE: JBL) is trading at a multiple of 9x, a 30 percent discount to the S&P 500. Analysts at Goldman Sachs think the discount is unwarranted.

According to comments from analyst Craig Hettenbach today, the overhang in the stock is due to weakness at RIM (Nasdaq: RIMM), one of Jabil’s largest customers. However, although there will likely be a negative impact because of weakness at RIM, Jabil’s largest customer, Apple (Nasdaq: AAPL) should help support the company as it ramps for the iPhone 5 coming this fall.

Hettenbach and his team reiterate their Buy rating on JBL and lower their six-month price target to $25 (from $26).

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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