Celestica rallies after BMO ups price target to $130

BMO Capital raised the firm’s price target on Celestica (CLS) to $130 from $118 and keeps an Outperform rating on the shares after recent meetings with management. The firm believes Celestica will continue to benefit from a strong demand environment, saying hyperscaler spend isn’t being impacted by tariff and macro concerns. The company has a strong competitive position as its recent 1.6T and large “digital native” wins speak to its ability to grow share, the analyst tells investors in a research note. BMO sees “further room” on the stock’s 2026 valuation given potential upside to estimates. Shares of Celestica are up 5% to $119.38 in afternoon trading.