Celestica Inc
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Information Technology : Electronic Equipment, Instruments & Components | Small Cap Value
Based in Canada
Company profile

Celestica Inc. is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services. Its products and services serve a range of applications, including servers; storage systems; optical equipment; aerospace and defense electronics; healthcare products and applications; semiconductor equipment, and a range of industrial and alternative energy products, including solar panels and inverters. It designs, manufactures and tests solar panels for the residential, commercial and utility scale markets. It uses technologies in the assembly and testing of its products.

Closing Price
Day's Change
-0.16 (-1.85%)
B/A Size
Day's High
Day's Low
(Above Average)

10-day average volume:

Tesla, Nio shares get price-target hikes

12:39 pm ET January 11, 2021 (MarketWatch)

By Claudia Assis

Tesla Inc. stock and American depositary shares of Nio Inc. got price-target increases on Monday, with Wall Street emphasizing the electric-car makers' tech-company side.

B. of A. analysts raised their price target on Tesla (TSLA) stock to $900, from $500, praising Tesla's fourth-quarter sales (https://www.marketwatch.com/story/tesla-and-other-ev-makers-report-record-sales-sending-stocks-to-new-highs-11609781384)as "solid" and saying that the company's $5 billion stock offering in December (https://www.marketwatch.com/story/tesla-stock-drops-after-5-billion-stock-offering-plan-11607427217)reinforces their view that it "will utilize its stock to raise low-cost equity capital to fund accelerated growth."

"(Tesla) stock is driven by growth afforded by valuation," the analysts, led by John Murphy, said in a note.

"The higher the upward spiral of (Tesla's) stock goes, the cheaper capital becomes to fund growth, which is then rewarded by investors with a higher stock price. The inverse of this dynamic is also true, and it is this self-fulfilling framework that appears to explain the extreme moves in (Tesla) stock to the upside and downside," the analysts said.

Tesla shares took a breather on Monday following an unprecedented 11-day winning run in previous days. The stock is up 776% in the past 12 months, compared with gains around 17% for the S&P 500 index in the same period.

Nio ADRs rallied on Monday, trading as high as $66.89 earlier and up nearly 9% at last check. A close higher would be a second straight record high for Nio. (https://www.marketwatch.com/story/nio-bloom-energy-stocks-poised-for-record-closing-high-2021-01-08)

The company held a "Nio Day" on Saturday, unveiling a new luxury sedan, the ET7, and showcasing its technological advances. The ET7 and its autonomous driving capabilities will feature Nvidia Corp.'s (NVDA) "orin" chip, in a partnership also announced Saturday.

The "Nio Day" reveals led analysts at JPMorgan to increase their price target on the ADRs to $75, from $50, and "sustain our view that Nio will continue to trade more like a fast-growth technology/EV stock than a carmaker," the analysts said. They kept their rating on Nio's ADRs at their equivalent of buy.

Nio's ADRs have gained more than 1,700% in the past 12 months.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

January 11, 2021 12:39 ET (17:39 GMT)

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