Citigroup Hikes PT & '11-'12 Estimates for Jabil Circuit; Maintains Hold (JBL)

Citigroup Inc. lifted its price target for Jabil Circuit, Inc. (NYSE:JBL) on Tuesday, from $20.00 to $23.00, with a Hold rating maintained. Citigroup raised its 2011 EPS estimate for the firm from $2.01 to $2.23, and lifted its 2012 EPS estimate from $2.07 to $2.24. Jabil Circuit is an electronic manufacturing services provider for international electronics companies in the communications, personal computer, peripheral, consumer, and automotive markets. The company offers circuit design, board design from schematic, prototype assembly, volume board assembly, system assembly, repair, and warranty services. On November 11, 2010, Jabil Circuit was downgraded to Hold from Buy at Citigroup. Jabil Circuit had sales growth of 0.4% during the last fiscal year. The company has reported $13.4 billion in sales over the past 12 months and is expected to report $16.9 billion in sales in the next fiscal year.

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