BofA raised the firm’s price target on Jabil to $160 from $155 and keeps a Buy rating on the shares ahead of the company reporting fiscal Q2 earnings before market opens on Friday March 15. While being “cognizant of weak end markets” and saying it expects “overall weak revenues in FY24,” the firm expects margins to remain strong on mix shift to higher margin end markets and cost control. The firm is adjusting estimates and using a slightly higher multiple on higher revenue growth related to AI and Cloud and better mix driving higher margins in FY25 and beyond, the analyst tells investors in a preview note.
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