Jabil Circuit (JBL) Stock Gaining, Upgraded at Raymond James

Jabil Circuit (JBL) stock rating was upgraded to 'strong buy' from 'outperform' on Friday morning.
By Annie Palmer ,

NEW YORK (TheStreet) -- Jabil Circuit (JBL) - Get Report stock is up 4.58% to $20.33 in mid-morning trading as Raymond James upgraded its rating to 'strong buy' from 'outperform' on Friday. 

The firm lifted its stock price target for the St. Petersburg, FL-based electronic manufacturing company to $26 from $21, the Fly reports. Jabil Circuit supplies materials used to make casing for Apple (AAPL) phones. 

Volatility from Apple has been dominating Jabil's outlook, particularly its "meaningful cash flow and capital return inflection," the firm said in an analyst note. As the company's fundamentals are bottoming, investor sentiment should improve by analyst day on September 27, the firm continued. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate JABIL CIRCUIT INC as a Hold with a ratings score of C+. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and a generally disappointing performance in the stock itself.

You can view the full analysis from the report here: JBL

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