Celestica price target raised to $146 from $126 at Barclays

Barclays raised the firm’s price target on Celestica (CLS) to $146 from $126 and keeps an Overweight rating on the shares. The firm cites positive checks from its recent Asia trip and a better outlook on the 800G switch for the target increase. The switching business has the most visibility and stickier relationship with customers as Celestica co-designs highspeed switches with hyperscale customers, the analyst tells investors in a research note. Barclays expects the company to continue to benefit from the 800G switch upgrade cycle in 2025 along with share gains. It sees a favorable risk/reward at current share levels.