Goldman Says Buy Jabil Circuit (JBL)

Goldman Sachs has a Buy rating and a $22 price target on shares of Jabil Circuit, Inc. JBL after it reported earnings yesterday. In a note sent to investors, Goldman writes, "We remain buyers of JBL even after the recent run-up. We stress that the stock would have to rise another 50% before JBL reaches its 3-year average relative multiple of 0.9X the S&P 500. We are raising our 6-month target to $22 from $21 on higher estimates. Our target is based on a combination of P/E and EV/EBITDA multiples." Shares of JBL are up $1.16 in pre-market trading to $18.82, a gain of 6.57%.