January 27, 2017 / 3:56 PM / a year ago

BUZZ-Canada's Celestica: At 12-yr high as revenue beats estimates again

** Electronic manufacturer’s shares soar nearly 12 pct to little over 12-year high of C$18.66

** Celestica’s revenue rises more than analysts’ expectations for 5th quarter in a row, driven in Q4 by demand from its communication products business

** Company’s EPS has now beaten estimates in all quarters of 2016 on increasing operating margins, which Celestica said reached their highest since 2001 last year

** Co also forecast revenue to increase for 6th straight quarter in Q1, “which is quite an improvement relative to the revenue challenges ... over the prior 10+ years”, BMO says

** Celestica says it decided in Q4 to exit solar panel making business due to market instability and global oversupply

** BMO and 4 other brokerages raise PT on the stock, boosting the median PT to $13.63 from $12.00, per TR data

** About 413,000 shares traded, 2.2x their 30-day moving avg

** Up to Thursday’s close, stock had risen 20.4 pct in 12 months

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