Jabil Analysts Boost Their Forecasts After Strong Q3 Results

Jabil Inc JBL reported better-than-expected third-quarter financial results.

Jabil reported third-quarter FY23 revenue growth of 1.8% year-on-year to $8.48 billion, beating the consensus estimate of $8.20 billion. The company’s adjusted EPS of $1.99 beat the consensus of $1.87.

Jabil shares rose 5% to close at $104.64 on Thursday, but lost 0.4% in today’s pre-market trading session.

These analysts made changes to their price targets on Jabil following earnings announcement.

• Raymond James raised the price target on Jabil from $100 to $120. Raymond James analyst Melissa Fairbanks maintained a Strong Buy rating.
• Credit Suisse increased the price target on Jabil from $110 to $125. Credit Suisse analyst Shannon Cross maintained an Outperform rating.

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