Was Jim Cramer Right About Celestica Inc. (CLS)?

We recently published a list of Was Jim Cramer Right About These 11 Stocks? In this article, we are going to take a look at where Celestica Inc. (NYSE:CLS) stands against other stocks that Jim Cramer discusses.

A caller asked about Celestica Inc. (NYSE:CLS), the hardware and electronics company that had recently staged a strong comeback. Cramer was enthusiastic about its performance and valuation:

“Oh my God, they’re terrific — they’re like Dell without any of the front office problems. It is just a great situation. What a comeback. It’s been kind of in the wilderness for a long time and now it’s back — and it’s still inexpensive.”

Cramer was absolutely right with Celestica climbing 115.77%. Celestica Inc. (NYSE:CLS) is benefiting from strong demand in advanced computing and aerospace, offering end-to-end supply chain and hardware solutions.

A close-up of a circuit board with components depicting the intricate electronic componentry products the company produces.

Following a recent dip, Cramer said that the stock is still inexpensive. Here are his comments from late February this year:

“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.”

Overall, CLS ranks 8th on our list of stocks that Jim Cramer discusses. 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 have limited downside risk. If you are looking for an AI stock that is more promising than CLS and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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