Shares of Jabil Circuit Inc (NYSE:JBL) are rocketing ~10% higher on a strong quarterly earnings report today. Jabil delivered revenue growth of 32% year-over-year.
The company reported a quarterly profit of $.49 per share, or $106.7 million, and revenue of $4.1 billion. Analysts had expected revenue of $3.97 billion.
Following the earnings release, three wall street analysts have increased their price targets on the stock to anywhere between $22 and $25 per share.
The electronics contract manufacturer is continuing to shift its business focus on auto, aerospace, industrial, instrumentation, military, medical, etc. Analysts believe there is major upside for Jabil Circuit in these areas, potentially 20-30% growth opportunity .
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Disclosure: No position