RBC Boosts Price Target on Celestica to $450.00

Royal Bank of Canada (RBC) has increased its price target for Celestica (NYSE: CLS, TSE: CLS) to $450.00 per share from $440.00 in a recent research report.

This is the second time this week that a brokerage firm has upgraded their rating and price target for Celestica. On April 29th, TD Securities raised its rating from 'hold' to 'buy' with a price objective of $430.00 per share.

Celestica's Q2 earnings report exceeded analyst expectations, with revenue rising 62% year-over-year to approximately $4.70 billion and adjusted EPS of $2.54 surpassing the consensus estimate of $2.29.