Bank of America Reiterates Buy on Jabil Circuit

Bank of America reiterated its Buy rating on Jabil Circuit JBL after a meeting with the company's management. In a research report published today, Bank of America states, "We hosted CEO Tim Main and Executive Vice President and CEO of the Manufacturing Services Group, Bill Muir at our Technology Conference. Jabil continues to make progress towards a mix shift towards Diversified Manufacturing Services (DMS targeted to be 45% of revenues by F13E). We walked away incrementally positive that Jabil is well positioned to deliver operating margin growth given the focus on driving the highest growth at the highest margin segment (long-term 6-8% operating margin target for DMS). Reiterate Buy." At the moment, Bank of America has a price target of $25 on the company's stock. On Wednesday, Jabil lost 5.05% of its value to close the day at $20.49.