Jabil Circuit Trades Down 6.5% As UBS Discloses JBL’s Cautious Stance
Tags: UBS, Amitabh Passi
Jabil Circuit Inc (NYSE: JBL) was down 6.47% around closing time today after analyst Amitabh Passi of UBS stated that the company had a "marginally more cautious" stance on its performance in the forthcoming quarter. Passi had met the company's management recently.
In his research note to his clients, Passi wrote, "We sensed a slightly more cautious tone from management, likely influenced by weaker macro indicators and a more balanced supply chain in the enterprise segment."
However, he maintained his “buy” rating and $21 price target on JBL’s stock.
The shares of Jabil Circuit are one of the biggest laggards in the S&P 500 Index (SPX).
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