Stock Upgrades, Downgrades from TheStreet.com Ratings

Each weekday, TheStreet.com Ratings updates its ratings on the stocks it covers. The proprietary ratings model projects a stock's total return potential over a 12-month period, including both price appreciation and dividends. Buy, hold or sell ratings designate how the Ratings group expects these stocks to perform against a general benchmark of the equities market and interest rates.

While the ratings model is quantitative, it uses both subjective and objective elements. For instance, subjective elements include expected equities market returns, future interest rates, implied industry outlook and company earnings forecasts. Objective elements include volatility of past operating revenue, financial strength and company cash flows.

Celestica(CLS Quote) provides electronic manufacturing services and solutions to original equipment manufacturers in the communications, computing, industrial and consumer sectors in Asia, the Americas and Europe. It has been upgraded to a hold from a sell.

The company's net income swung to a profit of $51.5 million in the third quarter from a loss of $42.1 million in the same period last year. Celestica's debt-to-equity ratio of 0.35 is below the industry average, implying that there has been successful management of debt levels. ...