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BUZZ-JP Morgan raises Jabil's PT on cloud market rebound

Reuters
Mar 12
BUZZ-JP Morgan raises Jabil's PT on cloud market rebound

** J.P. Morgan raises price target on electronics firm Jabil JBL.N to $300 from $270

** New PT represents a 17.4% upside to stock's last close

** Brokerage says a rebound in cyclical markets and recovery from slowdown in AI liquid‑cooled rack capacity should support better‑than‑expected results in Q3 and Q4

** Expects Q2 revenue of $8 billion, towards the higher end of JBL's outlook of $7.5 billion to $8 billion, driven by robust growth in Intelligent Infrastructure on strong cloud and data center interconnect demand

** JPM expects more than 45% year-on-year growth in the segment

** Median PT of 13 brokerages covering the stock is $265 - data compiled by LSEG

** As of last close, JBL up 12% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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