Celestica price target raised to $29 from $23 at TD Securities

TD Securities analyst Daniel Chan raised the firm’s price target on Celestica to $29 from $23 and keeps a Buy rating on the shares. The analyst says data center demand for Nvidia’s accelerated computing platforms suggests major cloud service providers are moving at an accelerated pace to deploy hardware necessary to support generative artificial intelligence infrastructure. With greater exposure to data center cloud and AI-related spend versus peers, Celestica is “primed to be an early beneficiary of the GenAI tech adoption cycle,” the analyst tells investors in a research note.