Benzinga | Sep 30, 2021 03:49PM EDT

Analysts See Up To 57% Upside In Jabil Post Q4 Earnings - Read Why

* Analysts hailed Jabil Inc's (NYSE:JBL) Q4 earnings results by raising their price targets.

* Stifel analyst Matthew Sheerin upgraded from Hold to Buy and raised the PT from $63 to $68, implying an 18.8% upside.

* Sheerin sees the pullback in shares following what he calls "a solid quarter and outlook" as a buying opportunity, especially in light of Jabil's "robust outlook" for 8% topline growth, continued margin expansion, and about $6.35 in adjusted EPS for FY22.

* Programs in higher-margin end markets where Jabil has made significant investments, including autos, healthcare, industrial, and cloud, are driving that growth, noted Sheerin.

* Sheerin thinks the stock's current multiple "gives the company no credit for significant progress in diversifying its business, expanding margins and generating cash."

* Raymond James analyst Adam Tindle maintained a Strong Buy and raised the PT from $66 to $70, indicating a 22.3% upside.

* Citi analyst Jim Suva raised the PT to $90 from $80, suggesting a 57.3% upside, and affirmed a Buy.

* Suva says the "rare" sales miss by Jabil is "understandable given the component supply chain shortages that companies have widely discussed."

* Despite this, Suva notes that the company is guiding the November quarter inline and its FY22 earnings to be 6% above consensus.

* Suva views the post-earnings selloff as a buying opportunity.

* Price Action: JBL shares traded higher by 2.32% at $58.56 on the last check Thursday.