Artificial intelligence tailwinds could mean more gains ahead for Celestica , according to Barclays.
The investment bank initiated coverage on the stock with an overweight rating, and its price target of $91 implies nearly 26% upside from Monday's close.
Not only that, Celestica's gains are bolstered by an upcoming upgrade cycle in hyperscaler bandwidth technology, which is where the company already has a leading market share, Wang also said.
"CLS is strongly positioned in the 800G upgrade cycle, enabling hyperscaler customers to transition from 400G to 800G," he continued.
CLS YTD mountain CLS, year-to-date Shares of the company have been on a massive rally this year, as the stock has gained more than 159%.
Persons:
George Wang, Wang, It's
Organizations:
Celestica, Barclays, CLS, Google