4 Best Tech Stocks to Buy According to Bank of America

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1. Jabil Inc. (NYSE:JBL)

Stock Price as of June 9: $61.70

Number of Hedge Fund Holders: 45

Jabil Inc. (NYSE:JBL) is a Detroit, Michigan-based provider of manufacturing solutions with 260,000 employees spread across 30 countries.

Wamsi Mohan, Ruplu Bhattacharya, Esha Vaish, and Jong Lee at Bank of America have given Jabil Inc. (NYSE:JBL) stock a  price target of $82 and a Buy rating. The analysts are impressed with Jabil Inc.’s (NYSE:JBL) ability to increase its top line and expand margins amidst the supply chain-related challenges, which have resulted in component shortages, higher costs related to freight and logistics, and inflation. The procurement team is doing well in controlling the overall costs. Meanwhile, the management is trying to pass on any increase in cost directly to the customers due to the company’s pricing power. Jabil Inc. (NYSE:JBL) has been successful in its strategy because it focuses on high-margin opportunities instead of chasing growth through low-margin business. The emerging trends in the manufacturing operations of cloud computing and 5G computing, electric vehicles, and healthcare will provide a strong tailwind to Jabil Inc. (NYSE:JBL).

As of Q1 2022, 45 hedge funds held a stake in Jabil Inc. (NYSE:JBL).

You can also take a peek at the 10 Best Recession Stocks To Buy and 10 Stocks to Buy Now According to Steve Ketchum’s Sound Point Capital.

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