Jabil initiated with a Neutral at UBS

UBS analyst David Vogt initiated coverage of Jabil with a Neutral rating with a price target of $76. The company’s transformation over the past decade to more diversified and secular growth end-markets mitigates risk during a potential recession, but he believes that the benefits of this strategy are largely reflected in Jabil’s valuation, the analyst tells investors in a research note. Vogt adds however that if iPhone and Mac production unexpectedly accelerates, his EPS estimates could prove to be conservative, driving a re-rating.