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Celestica initiated with a Neutral at Citi

Citi analyst Atif Malik initiated coverage of Celestica (CLS) with a Neutral rating and $172 price target The company is gaining market share in the growing data center switch market but the shares are fully valued after rallying 70% year-to-date, the analyst tells investors in a research note. The firm says Celestica trades at a premium valuation.

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