Zacks Investment Research upgraded shares of Jabil Circuit Inc. (JBL) from NEUTRAL to OUTPERFORM on November 06, 2014, with a target price of $25.00.
Jabil reported better-than-expected fourth-quarter 2014 results. Both revenue and earnings comfortably beat the Zacks Consensus. Forward guidance for 2015 was encouraging, driven by improving business trends and new bookings. Its increasing association with Apple is the only positive in the near term, with the impact of the Blackberry disengagement, intensifying competition, macroeconomic headwinds and investments in diversified manufacturing remaining largely negative. For the long term however, higher revenue contribution from Nypro, restructuring benefits and customer wins remain key catalysts Thus, we upgrade Jabil shares from Neutral to Outperform and set a price target of $25.00.
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