Citi analyst Jim Suva raised his price target for Jabil to $44 from $36 to reflect a higher market multiple and keeps a Buy rating on the shares. Jabil has been diversifying production exposure in Apple (AAPL) supply chain and iPhone casing exposure is less than 10% of revenue versus 15%-20% four years ago, Suva tells investors in a research note.

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."