Citi Raises PT On JBL To $25

Citi has raised the Price Target on Jabil Circuit Inc JBL from $22.00 to $25.00. According to Citi, "Our sales and EPS estimates (see below and Figure 1) go higher on a solid quarter and guidance, including a lower tax rate outlook. Our price target goes to $25 from $22 which represents 20% upside from where the stock is trading in the aftermarket. We maintain our Hold recommendation based on our cycle framework that the best time to own EMS is when there is both margin & sales leverage and we believe margin leverage has largely played out for Jabil." Citi has a Hold Rating. Citi closed yesterday at $18.93.