Celestica price target raised to $41 from $26 at Argus

Argus raised the firm’s price target on Celestica to $41 from $26 and keeps a Buy rating on the shares after its Q4 earnings beat and above-consensus guidance. The company is benefiting from a portfolio diversification strategy focusing on high-growth, high-margin businesses as well as from trends in artificial intelligence and machine learning, the analyst tells investors in a research note. The firm is also raising its FY24 EPS view to $2.90 from $2.60.