Jabil price target raised to $160 from $145 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Jabil (JBL) to $160 from $145 and keeps a Buy rating on the shares. The company’s Q1 earnings were a “solid report”, beating the Street expectations and raising FY25 guidance, the analyst tells investors in a research note. The firm adds that it is “encouraged” by the strength in Jabil’s AI-related portfolio for datacenter and networking products, including in silicon photonics applications. Goldman notes that some higher margin end markets – like autos and renewables – remain cyclically weak, but as those end markets recover they should contribute to earnings and free cash flow growth.