Why Has B. Riley Given Celestica Inc (NYSE:CLS) a $12.50 Price Target
B. Riley analyst have started coverage with a Neutral rating on Celestica Inc (NYSE:CLS) today and set a price target of $12.50. The firm’s shares opened today at 11.31.
From a total of 7 analysts covering Celestica (NYSE:CLS) stock, 1 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 10% of the ratings are positive. The highest target price is $14 while the lowest target price is $10. The mean of all analyst targets is $12.73 with a -24.14% below today’s ($11.31) stock price. Celestica was the topic of 4 analyst reports since October 21, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets downgraded shares on October 30 to “Sector Perform” rating.
Approximately 17,941 shares of stock traded hands. Celestica Inc (NYSE:CLS) has declined 9.65% since May 1, 2015 and is downtrending. It has underperformed by 6.86% the S&P500.
Celestica Inc. is a provider of supply chain solutions globally to original equipment manufacturers (OEMs) and service providers in the communications, consumer, diversified, servers and storage end markets. The company has a market cap of $1.40 billion. 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. It has 36.72 P/E ratio.
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.” Get a free copy of the Zacks research report on Celestica Inc (CLS).