Citi Raises Jabil Circuit Target Price (JBL)

Citing increased sales and a positive EPS surprise, Citigroup Capital markets raised its price target for Jabil Circuit (NYSE: JBL) to $22 from $19. Citi also reiterated its Buy rating on the stock.

Citi noted "the potential for more margin accretion should demand remain firm, positive cycle timing [will] be positive on the sector and new ramps in mobile and mechanicals could boost sales & EPS."

Jabil Circuit's principal activity is to provide electronic manufacturing services and solutions worldwide. Shares are trading up today, to $14.92.