Celestica Inc. (CLS) saw a substantial 5.17% pre-market soar on Wednesday, January 29th, as investors positioned themselves ahead of the company's highly anticipated fourth quarter 2024 earnings release scheduled for January 30th.
According to consensus estimates, analysts are forecasting Celestica to report Q4 2024 revenue of $3.65 billion and earnings of $1.29 per share. For the full year 2024, expectations are set at revenue of $13.87 billion and earnings of $4.84 per share. These projections have been revised upwards over the past 90 days, signaling increasing optimism surrounding Celestica's performance.
The pre-market surge suggests that investors are expecting Celestica to meet or exceed these estimates when it reports its Q4 2024 results. Strong earnings could further fuel the stock's rally, as analysts currently have an average 12-month price target of $169.90 for Celestica, representing a potential upside of nearly 25% from current levels.
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