JBL - Jabil upgraded to buy at Goldman on exposure to Tesla Rivian

Jabil (NYSE:JBL) shares are up more than 2% to $63.27 after Goldman Sachs upgraded shares to buy, noting the company's exposure to the electric vehicle market, in particular Tesla (NASDAQ:TSLA) and Rivian Automotive (NASDAQ:RIVN). Analyst Mark Delaney put a new price target on Jabil (JBL) of $75 per share, implying slightly more than 20% upside, as the company continues to get more spending inside electric vehicles and raises its exposure to the cloud, both of which are "becoming an increasingly large percent of the company's total portfolio," the analyst wrote in a note to investors. To-date, Jabil Circuit (JBL) shares have gained more than 46%. Jabil (JBL) is expected to generate roughly 10% of its total revenue from the auto market, Delaney estimates, including its exposure to Tesla (TSLA) and Rivian Automotive (RIVN), with the potential for more as the electric vehicle market grows - including potential entrants from the tech industry -

For further details see:

Jabil upgraded to buy at Goldman on exposure to Tesla, Rivian