Canaccord Genuity Upgrades Celestica Inc to Buy

Brokerage firm Canaccord Genuity Upgrades its rating on Celestica Inc(NYSE:CLS). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Canaccord Genuity was issued on Jul 22, 2016.

Celestica Inc (CLS) shares turned negative on Thursdays trading session with the shares closing down -0.11 points or -0.97% at a volume of 2,68,072. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.36. The peak price level was also seen at $11.36 while the days lowest was $11.1554. Finally the shares closed at $11.21. The 52-week high of the shares is $13.49 while the 52-week low is $8.07. According to the latest information available, the market cap of the company is $1,607 M.

Celestica Inc(CLS) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.49B. Analysts had an estimated revenue of $1.46B. Earnings per share were $0.29. Analysts had estimated an EPS of $0.28.

Celestica Inc. (Celestica) 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 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 products and services serve a range of applications including servers; networking wireless and telecommunications equipment; storage systems; optical equipment; aerospace and defense electronics; healthcare products for diagnostic imaging; audiovisual equipment; set top boxes; printer supplies; semiconductor equipment and a range of industrial and green technology products.

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