Morgan Stanley Lowers Jabil Circuit to 'Underweight'

Analyst Scott Craig says it's unlikely that the circuit-board maker will continue to outperform the broader sector

Morgan Stanley downgraded Jabil Circuit (JBL ), a maker of circuit boards and other electronics parts, to underweight from equal-weight.

Analyst Scott Craig says he believes Jabil shares are priced for perfection, and says the risk profile of its revenues profits appears to have increased. He finds it unlikely that Jabil shares will continue to outperform the broader sector, as they have since late 2001 and early 2002.

Craig sees 89 cents fiscal 2004 (Aug.) earnings per share, and $1.15 for fiscal 2005.

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