J.P. Morgan Reiterates Overweight on Jabil Circuit (JBL)

J.P. Morgan is out with its report on Jabil Circuit JBL, reiterating Overweight. In a note to clients, J.P. Morgan writes, "While the return of the France and Italy operations negates some of Jabil's recent progress, we continue to believe mix shift toward higher margin, non-traditional mechanicals and aftermarket services, as well as higher margin industrial, medical, and clean tech EMS businesses and away from lower margin mobile devices, networking, and computing are driving sustainable above-peer revenue growth and margin improvement. Reiterate Overweight." J.P. Morgan maintains a $26 PT on JBL. At the time of posting, shares of JBL were trading at $20.18, down 4.18% from Tuesday's close.