04:07:44 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Celestica Inc
Symbol CLS
Shares Issued 119,041,272
Close 2023-12-27 C$ 38.96
Market Cap C$ 4,637,847,957
Recent Sedar Documents

Globe says Celestica worth a fresh look

2023-12-27 08:47 ET - In the News

The Globe and Mail reports in its Saturday, Dec. 23, edition that Celestica is the top performing stock in the S&P/TSX Composite Index. The Globe's Tim Shufelt writes that it has been a very long time since Celestica gave investors a good reason to give it a fresh look. In fact, the stock has spent the past 20 years or so in the wilderness, ever since the dotcom bubble burst. At the time, Celestica was a high-flying tech name making fibre optic cables to wire the Internet. Its stock crashed, and the company settled into its new role as one of the dullest names on the market. As a contract manufacturer, Celestica took up the excess when other tech companies got too busy. Over the past 10 years, its share price has rarely ventured out of the $10-to-$15 range. However, the artificial-intelligence movement has breathed new life into Celestica, which is now supplying components to AI leaders Amazon, Alphabet and Meta Platforms. Celestica now says it is aiming for long-term earnings growth of 10 per cent a year. Mr. Shufelt says tech investors are paying attention to Celestica. The Globe's Joe Castaldo and Sean Silcoff were keen on Celestica on Dec. 6 when it could be had for $35.15.

© 2024 Canjex Publishing Ltd. All rights reserved.