Claims Jabil losing share at Dexcom ‘not happening,’ says Raymond James

Jabil’s (JBL) recent stock weakness does not reflect any negative surprises, as earnings, guidance, and management commentary were in line, and claims that Jabil is losing share at Dexcom (DXCM) are incorrect and is “categorically not happening,” Raymond James tells investors in a research note. Near-term headwinds include elevated interest expense, a higher FY27 tax rate, and a temporary AI-related capacity retrofit, but these are well understood by investors and expected to ease as the new North Carolina facility ramps quickly toward full production, the firm adds. Raymond James has a Strong Buy rating and $260 price target on Jabil shares.