TD Securities raises Celestica price target, says selloff ‘overdone’

TD Securities raised the firm’s price target on Celestica (CLS) to $107 from $70 and keeps a Buy rating on the shares, stating that the firm believes the share price reflects “a sufficiently conservative scenario” for the potential impact of DeepSeek’s models on AI infrastructure spending. While acknowledging that “many unknowns remain,” the firm calls the selloff in shares “overdone” and sees potential for material upside if the cost of AI is lowered and drives higher adoption.