Jabil price target raised to $110 from $90 at Credit Suisse

Credit Suisse raised the firm’s price target on Jabil to $110 from $90 and keeps an Outperform rating on the shares after recently hosting investors at Jabil’s Tampa headquarters and meeting with 8 executives from the leadership team and IR. The firm continues to believe the EMS sector is re-rating higher as demand for outsourcing grows given the desire to "right" shore/"friend" shore manufacturing closer to end consumers; increasingly complex supply chain dynamics; and expanded technology content and design complexity in products. Credit Suisse expects Jabil’s improving mix, scale and technology investments to support margin expansion and solid free cash flow for the foreseeable future.