The stock has had a terrific year, but RBC analyst Paul Treiber thinks there is still money to be made on Celestica (Celestica Stock Quote, Chart, News, Analysts, Financials NYSE:CLS).
In a research update to clients July 25, Treiber maintained his “Buy” rating and price target of $65.00 on CLS.
On July 24, CLS reported its Q2, 2024 results. The company posted EPS of $0.83 on revenue of $2.39-billion, a topline that was up 23% year-over-year.
“We are pleased to deliver another quarter of very strong performance in Q2 2024, with revenue up 23% year-to-year and non-IFRS adjusted EPS* up 65% year-to-year”. CEO Rob Mionis said. “With our strong performance in the first half of the year and favorable demand dynamics continuing, we are pleased to raise our full year 2024 outlook. We anticipate achieving revenue of $9.45 billion and non-IFRS adjusted EPS* of $3.62 in 2024, which, if achieved, would represent 19% and 49% growth, respectively, compared to 2023. We continue to stay focused on solid execution for our customers, and delivering on our strategic priorities and financial targets.”
About The Author /
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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