Celestica price target raised to $37 from $32 at BMO Capital

BMO Capital raised the firm’s price target on Celestica to $37 from $32 and keeps an Outperform rating on the shares. The company’s Q4 earnings beat was driven by strong server demand from hyperscalers, and the firm believes that the management’s FY24 guidance is likely “too conservative”, the analyst tells investors in a research note. The stock’s valuation remains attractive relative to its forecasts for EPS growth, BMO added.