Celestica Message Board - Msg: 12294781

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Technology Stocks : Celestica

CLS 344.41

+3.7%

Nov 28 9:30 AM EST

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To: MGV who wrote (238)	12/15/1999 1:28:00 PM
From: Marc	Read Replies (1) of 456

Celestica (CLS; $81 5/8; D-2-1-9) Raising Price Objective, Reiterate Accumulate/Buy Rating (Jerry Labowitz -Merrill Lynch) ú Two acquisitions were announced recently which we believe help CLS strengthen its repair and refurbishment capabilities. Celestica acquired Preferred Networks Inc?s EPS Wireless unit in Dallas and signed a letter of intent to acquire ICL?s Dallas repair operation. ú Although we are not changing our estimates, we think the acquisitions represent about $50mm in revenue and should be slightly accretive to our 2000 EPS estimate of $1.85. ú We think the selloff in the EMS sector yesterday provides investors with an opportunity to buy high-quality EMS providers such as Celestica. Based on a P/E of 50x our 2000 adjusted EPS estimate of $1.85, our new 12-month price objective is $92.

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