Jabil price target lowered to $133 from $137 at JPMorgan

JPMorgan analyst Samik Chatterjee lowered the firm’s price target on Jabil to $133 from $137 and keeps an Overweight rating on the shares. The firm trimmed estimates for Jabil to incorporate the incremental macro data points relative to its end markets, which it expects will limit revenue growth opportunities as well as margins on account of fixed cost absorption challenges. The earnings season has indicated incremental weakness in the autos supply chain and in the industrial end markets, while the macro headwinds have also limited the pace recovery in other end-markets including healthcare and consumer devices, the analyst tells investors in a research note.