Jim Cramer on Celestica: “It is a Strong Buy”

Celestica Inc. (NYSE:CLS) is one of the stocks Jim Cramer recently discussed. When a caller inquired about the company, Cramer stated:

“Oh, Celestica is red hot. I like Celestica. I like Jabil. I like Sanmina. All three of these companies are, what they do is they contract manufacturing, and in a time of tariffs, you want to be where you can build something, that you have a lower tariff, and Celestica can really help you. It is a strong buy. I’ve been trying to figure out how to recommend it on the show, and I’m so glad you called… you just gave me the chance to do so.”

Photo by Adam Nowakowski on Unsplash

Celestica Inc. (NYSE:CLS) provides manufacturing and supply chain solutions, including design, engineering, assembly, testing, logistics, and after-market services. The company serves industries such as aerospace, defense, industrial, HealthTech, communications, and enterprise markets. Cramer commented on the stock in a February episode of Mad Money. He remarked:

“It has come into its own in a way that I cannot believe it, and everyone’s piled in on it. And now, because of the fact that we got that downturn, you’re gonna get a chance to buy it. It sells at 22 times earnings. I want you to wait till it’s at 20 times earnings below the S&P and you can pull the trigger. I would probably put it at, I’d say $80.”

Since Cramer made the above comment, the stock is up by nearly 90%.

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Disclosure: None. This article is originally published at Insider Monkey.