Celestica price target raised to $240 from $126 at Canaccord

Canaccord raised the firm’s price target on Celestica (CLS) to $240 from $126 and keeps a Buy rating on the shares. The firm noted the company reported a stellar beat and raise quarter with record operating margins. Demand continues to grow for HPS networking gear from hyperscale customers, which has fuelled margin expansion and earnings growth demonstrated in the Q2/25 results ahead of expectations across all key metrics.