Celestica Inc. (CLS) Surpasses Q3 Earnings Expectations with 22% Revenue Growth, Analyst Sets $70 Price Target

Insider Monkey11-06

We recently compiled a list of the 35 AI News and Ratings You Should Not Miss. In this article, we are going to take a look at where Celestica Inc. (NYSE:CLS) stands against the other AI stocks that ...

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(CLS) Surpasses Q3 Earnings Expectations with 22% Revenue Growth, Analyst Sets $70 Price Target\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-06 02:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/celestica-inc-cls-surpasses-q3-183931116.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 35 AI News and Ratings You Should Not Miss. In this article, we are going to take a look at where Celestica Inc. (NYSE:CLS) stands against the other AI stocks that ...</p>\n\n<a href=\"https://finance.yahoo.com/news/celestica-inc-cls-surpasses-q3-183931116.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CLS","symbol_name":"天弘科技","start_time":0,"source_url":"https://finance.yahoo.com/news/celestica-inc-cls-surpasses-q3-183931116.html","article_id":"2481272631","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/fZ0yr8zNgUnxuWnd.Ad8zQ--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/ba0a0b45773bf5300613a5097077dc99"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481272631","pubTimestamp":1730831971,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently compiled a list of the 35 AI News and Ratings You Should Not Miss.In this article, we are going to take a look at where Celestica Inc.  stands against the other AI stocks that you should not miss.Data center investments by hyperscalers to leap ahead in the artificial intelligence  race are a hot topic on Wall Street. A latest study into the matter by consulting firm McKinsey sheds further light on the European market in this regard. According to the McKinsey report, data center power consumption in Europe is set to nearly triple by 2030, necessitating a significant increase in electricity supply, particularly from low-carbon sources, along with upgrades to grid infrastructure. McKinsey estimates that the total IT load demand from data centers in Europe is expected to grow to approximately 35 gigawatts  by 2030, up from 10 GW presently. Current trends also indicate that data center power consumption in the region is anticipated to triple to over 150 terawatt hours  by the en","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate","earning"],"viewcount":null,"language":"en","relate_stocks":{"CLS":"天弘科技"},"translate_title":"Celestica Inc.(CLS)第三季度盈利增长22%，超出预期，分析师设定70美元目标价","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLS":1},"content_text":"We recently compiled a list of the 35 AI News and Ratings You Should Not Miss. In this article, we are going to take a look at where Celestica Inc. (NYSE:CLS) stands against the other AI stocks that you should not miss.\nData center investments by hyperscalers to leap ahead in the artificial intelligence (AI) race are a hot topic on Wall Street. A latest study into the matter by consulting firm McKinsey sheds further light on the European market in this regard. According to the McKinsey report, data center power consumption in Europe is set to nearly triple by 2030, necessitating a significant increase in electricity supply, particularly from low-carbon sources, along with upgrades to grid infrastructure. McKinsey estimates that the total IT load demand from data centers in Europe is expected to grow to approximately 35 gigawatts (GW) by 2030, up from 10 GW presently. Current trends also indicate that data center power consumption in the region is anticipated to triple to over 150 terawatt hours (TWh) by the end of this decade.\nRead more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.\nThe report further reveals that data centers are expected to represent about 5% of Europe’s total power consumption in the next six years, compared to roughly 2% at present. Meeting this growing demand will require a minimum investment of around $300 billion in data center infrastructure, excluding power generation capacity. The report also highlighted that satisfying the increased electricity demand will require a substantial boost in supply, which represents a significant shift for Europe, where overall power demand has remained largely unchanged since 2007. Kevin Restivo of CBRE recently highlighted that demand for data center space in Europe is set to outstrip delivery of new stock for the third straight year and AI demand will exacerbate the issue.\nRead more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.\nOur Methodology\nFor this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.\nWhy are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A close-up of a circuit board with components depicting the intricate electronic componentry products the company produces. \nCelestica Inc. (NYSE:CLS)\nNumber of Hedge Fund Holders: 38 \nCelestica Inc. (NYSE:CLS) offers a range of product manufacturing and related supply chain services. On October 23, the company posted earnings for the third quarter of 2024, reporting earnings per share of $1.04, beating analyst expectations by $0.10. The revenue over the period was $2.5 billion, up over 22% compared to the revenue over the same period last year and beating market expectations by $80 million. Canaccord analyst Robert Young has a Buy rating on the stock with a price target of $70.\nOverall CLS ranks 33rd on our list of the AI stocks you should not miss. While we acknowledge the potential of CLS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CLS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.   \nDisclosure: None. This article is originally published at Insider Monkey.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481272631"}