Celestica Stock Surges As Board Member Steps Down Ahead Of Earnings: Retail Turns Extremely Bullish

Last week, analysts at RBC Capital raised their price target for the Celestica stock to $115 from $75 with an ‘Outperform’ rating.

Shares of Celestica Inc. (CLS) surged by 5% in morning trade on Wednesday after the company announced that one of its board members and chair of the Audit Committee is stepping down.

In a filing with the U.S. Securities and Exchange Commission (SEC), Celestica announced that Laurette T. Koellner will resign from the company’s board of directors on Jan. 31.

“Ms. Koellner's decision to resign was based on personal reasons and was not due to any disagreement with the Company on any matter relating to its operations, policies or practices,” Celestica noted in its SEC filing.

Koellner’s resignation will be effective a day after the company is scheduled to announce its fourth-quarter results. Celestica is estimated to post earnings per share (EPS) of $1.04, rising from $0.68 in the same period last year, according to Stocktwits data.

Last week, analysts at RBC Capital raised their price target for the Celestica stock to $115 from $75 with an ‘Outperform’ rating, according to a report by TheFly.

RBC analysts noted that the upward valuation re-rating in Celestica shares is likely to continue through 2025.

Celestica says it has started to look for a new person to fill Koellner’s role.

Retail sentiment on Stocktwits soared, entering the ‘extremely bullish’ (81/100) territory, while message volume also entered the ‘extremely high’ zone on Wednesday morning.

Users sounded optimistic about Celestica’s share price.

Meanwhile, one user thinks this is “just the beginning.”

Celestica’s share price has more than doubled in the past six months, rising nearly 119%. Over the past year, the stock has nearly quadrupled.

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