UPDATE: Deutsche Bank Reiterates on Jabil Circuit as Nypro Upside is Unable to Offset Drag

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on

, but lowered the price target from $20.00 to $17.00. In the report, Deutsche Bank noted, “Nypro upside unable to offset drag from BBRY, AAPL and AMS. JBL reported better-than-expected F1Q-14 results, but F2Q-14 guidance was well below expectations. The outlook decline was driven by 3 factors, the sale of the AMS business, the BBRY disengagement and weakness at a top DMS customer (AAPL). A number of factors appear to be converging on JBL, which will put pressure on revenue and margins for at least the next year. We have substantially reduced our estimates and cut our PT to $17 from $20. The stock has already negatively corrected, but with the continued uncertainty, we would remain on the sidelines. Maintain Hold.” Jabil Circuit closed on Thursday at $16.26.