J.P. Morgan initiates Celestica with 'overweight' rating

Celestica

21/02/2025 12:01

** Electronics manufacturing services company Celestica's
 CLS.N  shares up ~1.59% at $127.01 premarket
    ** J.P. Morgan initiates CLS with "overweight" rating
    ** Brokerage expects CLS to benefit from boost in AI
infrastructure investment, as it will drive strong revenue
growth for the company
    ** JPM says CLS' R&D investments are bearing fruit with high
revenue growth in the co's hardware platform solutions 
    ** Brokerage sets PT at $166, a ~32.8% upside on stock's
last close
    ** 11 of 12 brokerages rate the stock "buy" or higher, 1
"hold"; their median PT is $140 - LSEG data
    ** As of last close, stock up ~35.5% YTD


 

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))