Celestica price target lowered to $126 from $157 at Barclays

Barclays analyst George Wang lowered the firm’s price target on Celestica (CLS) to $126 from $157 and keeps an Overweight rating on the shares. The firm increased estimates post the earnings print. Celestica is well positioned as artificial intelligence footprints shift to ethernet switching and custom ASIC servers, as evidenced by incremental 1.6T program wins, the analyst tells investors in a research note.