On today’s Breakouts report, there are just four stocks on the positive breakouts list , and 165 stocks are on the negative breakouts list .). Celestica was one of the few stocks to rally on Monday and appear on the positive breakouts. Year-to-date, the share price has rallied 118 per cent.
Diversified revenue stream. Serving aerospace and defence, industrial, healthtech and capital equipment markets. He also commented on the company’s AI driven growth potential, “Our current outlook calls for our HPS [Hardware Platform Solutions] business to resume year-to-year growth in 2024 as new programs ramp. Our total portfolio of businesses within hyperscaler customers remains very healthy as they are continuing to make significant investments in their AI and machine learning capacity and capabilities.
RBC’s Maxim Matushansky upgraded his recommendation to an “outperform” from a “sector perform” and raised his target price to US$22 from US$14. Earnings forecasts have been climbing. Three months ago, the consensus earnings per share estimates were US$2.04 for 2023 and US$2.24 for 2024.The stock is trading at a price-to-earnings multiple of 9.7 times the 2024 consensus estimate, which is above its seven-year historical average forward P/E multiple of 7.7 times and near its peak multiple of just under 11 times during this time period.In the third quarter, one insider reported trading activity in the public market.