Celestica price target raised to $40 from $33 at TD Securities

TD Securities raised the firm’s price target on Celestica to $40 from $33 and keeps a Buy rating on the shares post the Q4 report. Celestica continues to see accelerating demand from artificial intelligence programs, which is driving expectations for the Enterprise segment to grow in the high 60% range in Q1, the analyst tells investors in a research note. Management believes they have enough capacity to address near- and longer-term demand, which points to a multi-year investment cycle with long term commitments, says TD.