As previously reported, Raymond James upgraded Jabil to Strong Buy from Market Perform and established a $34 price target. Analyst Adam Tindle thinks Jabil is entering another key metric inflection phase as both operating margin and free cash flow steadily improve on a year-over-year basis beginning in the May quarter. Tindle said new contractual wins have better characteristics on both margin and cash flow, combined with a continued tailwind from 5G implementation over the next few years, and an eventual rebound in semicap equipment trends.

In a regulatory filing, the company stated: "On April 15, 2024, Mr. Kenneth S. Wilson, CEO and Director of Jabil Inc., was placed on a paid leave pending completion of an investigation related to corporate policies. The conduct that prompted this review does not relate to, and does not impact, the Company's financial statements or financial reporting. Effective as of April 19, 2024, the Company's Board of Directors appointed Mr. Michael Dastoor, Chief Financial Officer, to serve as the Company's interim Chief Executive Officer. Information about Mr. Dastoor can be found in, and is incorporated into this Item 5.02 by reference to, the Company's Annual Report on form 10-K filed with the Securities and Exchange Commission on October 20, 2023. Mr. Mark T. Mondello continues in his role as Executive Chairman of the Board of Directors."