Ticonderoga maintains a 'Buy' on Celestica (CLS); 2011 Is Shaping Up to Be Celestica's Best Since 2004; Raising Estimates
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Price: $335.05 -3.62%
Rating Summary:
18 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ticonderoga maintains a 'Buy' on Celestica (NYSE: CLS), PT $14.
Ticonderoga analyst says, "Trading at just 7.4x our CY11 pro forma EPS estimate (ex-cash), we believe the stock remains an attractive value at current levels...Expecting the Best Sales Growth Since 2004 - Celestica's 2Q11 outlook calls for revenue of $1.75 billion to $1.90 billion with pro forma EPS of $0.22 to $0.28. Additionally, Celestica continues to expect 10-15% sales growth in 2011, which we believe is conservative and does not take into consideration the pending Brooks Automation transaction. Based on Celestica's strong results and outlook, we are raising our 2Q11 revenue projection to $1.89 billion from $1.82 billion and increasing our pro forma EPS estimate to $0.27 from $0.25. For 2011, we are raising our revenue projection to $7.66 billion (up 17%) from $7.45 billion and increasing our pro forma EPS estimate to $1.12 from $1.06."
For more ratings news on Celestica click here and for the rating history of Celestica click here.
Shares of Celestica closed at $11.04 yesterday.
Ticonderoga analyst says, "Trading at just 7.4x our CY11 pro forma EPS estimate (ex-cash), we believe the stock remains an attractive value at current levels...Expecting the Best Sales Growth Since 2004 - Celestica's 2Q11 outlook calls for revenue of $1.75 billion to $1.90 billion with pro forma EPS of $0.22 to $0.28. Additionally, Celestica continues to expect 10-15% sales growth in 2011, which we believe is conservative and does not take into consideration the pending Brooks Automation transaction. Based on Celestica's strong results and outlook, we are raising our 2Q11 revenue projection to $1.89 billion from $1.82 billion and increasing our pro forma EPS estimate to $0.27 from $0.25. For 2011, we are raising our revenue projection to $7.66 billion (up 17%) from $7.45 billion and increasing our pro forma EPS estimate to $1.12 from $1.06."
For more ratings news on Celestica click here and for the rating history of Celestica click here.
Shares of Celestica closed at $11.04 yesterday.
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