Citi Double Upgrades Jabil (JBL) to Buy, Added to US Focus List

Citi analyst Jim Suva upgraded Jabil (NYSE: JBL) from Sell to Buy with a price target of $36.00 (from $27.00).

• Says customer concentration risk likely played out.
• Materially raises model sales and EPS.
• Sees attractive valuation following recent underperformance.

The analyst comments "We now believe customer concentration concerns are fully reflected in the stock price and that the negative Apple revisions are behind it with Apple soon hitting low digit positive growth in CY2020, in our view."

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 $26.18 yesterday.

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