RBC Capital reiterated a Sector Perform rating on Celestica (NYSE: CLS), and raised the price target to $14.00 (from $13.00), following the company's 3Q15 earnings report. CLS Reported revenue and EPS at $1.41B/$0.30, below consensus of $1.47B/$0.31.

Analyst Amit Daryanani commented, "CLS reported Sep-qtr results below Street expectations on both revenues and EPS, reflecting sustained end-market challenges coupled with delayed ramps in its solar segment. Furthermore, CLS guided Dec-qtr revenues $70M below Street expectations and EPS ~3c below the Street. Revenues were at the low end of prior guidance due to weaker than expected demand (notably in servers and storage). Despite weaker than expected demand, Celestica continues to execute its margin expansion plan, as we see margins steadily climb toward 4%. We think the next step will be an updated strategic assessment from the new CEO, which we anticipate will occur in early CY16. Our revised CY16 estimates are revenues of $5.58B and EPS of $1.20. Maintaining Sector Perform and adjusting price target to $14 from $13."

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Shares of Celestica closed at $13.11 yesterday.