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Bank Of America Says Apple Inc. Has Finally Become A Tailwind For Jabil Circuit, Inc.

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In a note released Thursday morning, Bank of America analyst Wamsi Mohan reiterated a Buy rating and raised the price objective from $22 to $24 on shares of Jabil Circuit, Inc. (NYSE: JBL).

Mohan explained Jabil had previously suffered from the product mix of Apple Inc. (NASDAQ: AAPL), one of its largest customers. However, given Jabil's 20-30 percent share of the new iPhone cycle, Mohan said Apple is finally becoming a tailwind for the company.

Mohan wrote, "Although the worry will be that the Nov quarter could be the peak quarter in F15, given the expectation of a strong iPhone cycle, in our opinion Jabil should sustain revenue and earnings this cycle over the next several quarters."

Looking ahead, Mohan is predicting an EPS of $1.86, $2.07 and $2.32, respectively, for 2015-2017.

Latest Ratings for JBL

DateFirmActionFromTo
Nov 2019ReiteratesNeutral
Nov 2019Initiates Coverage OnSector Perform
Nov 2019DowngradesBuyHold

View More Analyst Ratings for JBL
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Posted-In: Bank of America Wamsi MohanAnalyst Color News Price Target Reiteration Analyst Ratings

 

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