Jabil Circuit, Inc. JBL was up about 3.6 percent on Thursday, December 18's trading, following a strong earnings report that beat analyst expectations for the first quarter. In addition, the company offered an outlook that also surpassed Wall Street projections comfortably.
While numbers certainly tell a story, looking at analysts' reactions to the news can additionally give insight into the sector's health.Unlike Deutsche Bank, Citigroup seems bearish on Jabil Circuit, and reiterated its Sell recommendation on December 18. However, the firm boosted its price target for the stock from $17 to $19.
Analysts are not decidedly bullish on the $3.95 billion market cap electronic manufacturing services and solutions provider, even in spite of its strong results.
Applied Materials, Inc. AMAT
In contrast, many analysts seem to like Applied Materials as an option within the tech sector. Citigroup reiterated its Buy rating on December 18, setting a price target of $36. In the previous week, Stifel Nicolaus also reiterate its Buy rating, accompanied by a $29 price target, and upgraded the stock from a Hold to a Buy, fixing a $30 price target. Stifel Nicolaus has verbalized its expectation that the company will “benefit from multiple technology inflections in the next two to three years, which could drive WFE spending to $36-37 billion.”© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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