Celestica price target lowered to $120 from $150 at CIBC

TipRanks

Wed, Apr 16, 2025, 9:05 AM 1 min read

CIBC lowered the firm’s price target on Celestica (CLS) to $120 from $150 and keeps an Outperformer rating on the shares following quarterly results. The firm says that while it is encouraged by Google (GOOGL) and Amazon’s (AMZN) 2025 Gen-AI related capex plans for datacenter buildouts that should benefit hardware suppliers including Celestica, what is less clear is the impact from U.S. export tariffs of 36% on Thailand, which is home to Celestica’s second-largest manufacturing location. This is important as 53% of Celestica’s 2024 external revenue was from Thailand, CIBC notes.

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