Celestica: Q2 2024, Why Do I Upgrade The Stock To 'Buy' Again

J Studios Intro & Thesis In August 2023, I initiated coverage of Celestica Inc. (NYSE:CLS) stock and then confirmed the "Buy" rating again in November. Since then, the stock has continued to rise, and at some point, its rally made me cautious against the backdrop of valuation ratios that were moving away from historical averages, and I eventually downgraded CLS to "Hold", confirming that rating 3 months ago. Since my last neutral thesis update, the stock's price has decreased by almost 1.7%, while the marke ...