Celestica price target raised to $20 from $14 at Stifel

Stifel analyst Matthew Sheerin raised the firm’s price target on Celestica to $20 from $14 and keeps a Hold rating on the shares. After Q2 sales and EPS beat its estimates, the firm raised its estimates to reflect the better guidance, which “seems reasonable.” However, acknowledging that “we should have been more positive on the story earlier this year,” the firm maintains its Hold rating and waits for a pullback to “be more constructive.”