Wall Street Analysts Believe Celestica (CLS) Could Rally 26.77%: Here's is How to Trade

Core Viewpoint - Celestica (CLS) has shown a significant price increase of 26.9% over the past four weeks, with analysts suggesting further upside potential based on short-term price targets, averaging $140.56, indicating a 26.8$110.88 [1] Price Target Analysis - The mean estimate consists of nine short-term price targets with a standard deviation of $23.71, indicating variability among analysts. The lowest estimate is$95, suggesting a 14.3% decline, while the highest estimate is $166, indicating a potential surge of 49.7% [2] - A low standard deviation in price targets suggests a high degree of agreement among analysts regarding the stock's price movement direction, which can serve as a starting point for further research [7] Earnings Estimates - Analysts are optimistic about CLS's earnings prospects, as indicated by a strong consensus in revising earnings per share (EPS) estimates higher, which historically correlates with near-term stock price movements [9] - The Zacks Consensus Estimate for the current year has increased by 8.5% over the past month, with no negative revisions, reinforcing the positive outlook [10] Zacks Rank - CLS holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, providing a strong indication of potential upside in the near term [11] Conclusion on Price Targets - While the consensus price target may not be a reliable measure of the extent of CLS's potential gains, it does provide a useful guide for the direction of price movement [12]