Celestica (CLS) PT Raised to $430 at BofA Securities

BofA Securities analyst Ruplu Bhattacharya raised the price target on Celestica (NYSE: CLS) to $430.00 (from $400.00) while maintaining a Buy rating.

The analyst comments "Celestica is undertaking the R&D, design and manufacturing of the scale-up networking switches in the AMD “Helios” AI architecture which we view as a multi-billon dollar TAM which opens up the opportunity for Celestica to work with hyperscalers whom it does not work with today. This is another proof point of Celestica’s ability to move into the scale-up networking market with Ethernet, beyond the opportunity with Broadcom and its announced digital native customer opportunity in 2027. We see upside potential to 2026 guidance. We raise our PO to $430 (from $400) on 34x (prior 32x) C27E EPS of $12.65. We use a higher multiple on large revenue opportunity in white-box switching and custom ASIC accelerated servers. Reiterate Buy."

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