Celestica price target raised to $38 from $33 at RBC Capital

RBC Capital raised the firm’s price target on Celestica to $38 from $33 and keeps an Outperform rating on the shares after its Q4 results. The company was not immune to industrial end market weakness, which caused the Advanced Technology Solutions segment revenues to come in below expectations, but this was more than offset by hyperscaler strength, the analyst tells investors in a research note. Investor focus is primarily on the hyperscaler business, which continues to be strong into FY24, the firm added.