Celestica initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Celestica (CLS) with an Overweight rating and $166 price target The company has leverage to artificial intelligence infrastructure investments across both compute as well as networking, the analyst tells investors in a research note. The firm says Celestica’s “strong relationships” with major hyperscalers position it to benefit from tailwinds relative to AI infrastructure investments and drive strong revenue growth and expanding margins.