Celestica initiated with an Overweight at Barclays

Barclays analyst George Wang initiated coverage of Celestica (CLS) with an Overweight rating and $91 price target As a North American tier 1 electronics manufacturing services and original design manufacturer company, Celestica is uniquely positioned to enable hyperscale data centers with switch and compute needs and meet the growing demands of artificial intelligence and machine learning, the analyst tells investors in a research note. The firm sees continued margin expansion for the company driven by its hardware platform solutions products.