Celestica price target raised to $160 from $140 at RBC Capital

RBC Capital analyst Paul Treiber raised the firm’s price target on Celestica (CLS) to $160 from $140 and keeps an Outperform rating on the shares after meeting with its CFO Mandeep Chawla. The discussion reinforced Celestica’s strong new program momentum and product differentiation with hyperscalers, and given the potential upside to consensus estimates, expanding margins, and the increasing mix of higher quality revenue, the stock’s valuation multiple on Celestica’s shares will continue to re-rate upwards, the analyst tells investors in a research note.