CLS
Wall Street is still in Celestica’s corner
Canadian Imperial Bank of Commerce turned up the optimism dial on Celestica, raising its price target from $360 to $425 and leaving its outperform rating intact. That’s a pretty loud way of saying the bank thinks the stock still has room to run.
Why you should care
A higher price target doesn’t magically make a stock go up, but it can help keep the momentum train rolling. For a name like Celestica, which already lives in the “show me the growth” camp, a bullish analyst call can nudge sentiment, attract momentum buyers, and keep the valuation debate frothy.
The part that makes you squint
The piece also flags insider selling last quarter: insiders unloaded 297,923 shares worth about $88 million, leaving them with just 0.52% ownership. That doesn’t automatically mean trouble — executives sell for all kinds of reasons — but it does add a little “hmm” to the story when paired with all the analyst enthusiasm.
Big picture
So the headline is simple: one of the bigger banks on the Street just got more optimistic on Celestica. If you own it, you’ve got a fresh support beam for the bull case. If you don’t, you’ve at least got one more analyst telling you this name still has some juice.