Jabil price target raised to $85 from $80 at Citi

Citi analyst Jim Suva raised the firm’s price target on Jabil to $85 from $80 and keeps a Buy rating on the shares. Jabil beat sales estimates by 4% and earnings by 3% and is guiding both the next quarter and full year 2023 higher, Suva tells investors in a research note. This is "especially impressive" considering the COVID and supply chain disruptions, but the stock traded lower on a down market day and investor concerns that this is as good as it gets and that a recession is looming, says the analyst.