Notable Reporting: Could Celestica Inc Change Direction After Touching 52-Week High?

Notable Reporting: Could Celestica Inc Change Direction After Touching 52 Week High?

The stock of Celestica Inc (NYSE:CLS) hit a new 52-week high and has $14.85 target or 22.00% above today’s $12.17 share price. The 7 months bullish chart indicates low risk for the $1.52B company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $14.85 price target is reached, the company will be worth $334.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 94,588 shares traded hands. Celestica Inc (NYSE:CLS) has risen 10.38% since March 31, 2016 and is uptrending. It has outperformed by 7.86% the S&P500.

Celestica Inc (NYSE:CLS) Ratings Coverage

Out of 7 analysts covering Celestica (NYSE:CLS), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $14.0 is the highest target while $0.75 is the lowest. The $11.90 average target is -2.22% below today’s ($12.17) stock price. Celestica has been the topic of 11 analyst reports since October 21, 2015 according to StockzIntelligence Inc. The stock of Celestica Inc (NYSE:CLS) has “Sector Perform” rating given on Friday, January 15 by RBC Capital Markets. Macquarie Research downgraded the stock to “Neutral” rating in Friday, July 29 report. The firm has “Sector Perform” rating given on Monday, January 18 by RBC Capital Markets. The firm has “Sector Perform” rating given on Wednesday, October 21 by RBC Capital Markets. As per Friday, January 29, the company rating was upgraded by Howard Weil. Canaccord Genuity upgraded the shares of CLS in a report on Friday, July 22 to “Buy” rating. As per Friday, December 4, the company rating was initiated by B. Riley & Co. The stock of Celestica Inc (NYSE:CLS) earned “Hold” rating by TD Securities on Tuesday, February 2. RBC Capital Markets downgraded the shares of CLS in a report on Friday, October 30 to “Sector Perform” rating.

According to Zacks Investment Research, “Celestica, Inc. is one of the largest electronics manufacturing services company in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world’s leading original equipment manufacturers. Celestica’s extensive depth and breadth of offerings supports a wide variety of customer requirements from low volume, high complexity custom products to high volume commodity products.”

Another recent and important Celestica Inc (NYSE:CLS) news was published by Nasdaq.com which published an article titled: “Celestica Reaches Analyst Target Price” on November 02, 2016.

CLS Company Profile

Celestica Inc., incorporated on September 27, 1996, is a well-known provider of supply chain solutions in the communications, consumer, diversified, servers and storage end markets. The Firm operates in electronics manufacturing services business segment. The Firm offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services. The Company’s services and products serve a range of applications, including servers; networking and telecommunications equipment; storage systems; optical equipment; aerospace and defense electronics; healthcare products and applications; semiconductor equipment, and a range of industrial and alternative energy products, including solar panels and inverters.

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