Jabil price target raised to $135 from $120 at Stifel

Stifel raised the firm’s price target on Jabil to $135 from $120 and keeps a Buy rating on the shares following an “upbeat” Q4 earnings call and business update. Jabil expects a positive sales mix to boost margins in FY25 and it expects to spend $2.5B in share repurchases, which should drive double-digit EPS growth in FY24 and FY25, the analyst tells investors. The firm’s new target reflects “a deserved multiple re-rating given Jabil’s dramatic and positive transformation in the last two years,” the analyst added.