US stock futures edge lower after S&P 500 hits record high; PCE data in focus
In a recent transaction, Todd Cooper, President of Celestica Inc . (NYSE:CLS), sold a total of 64,000 common shares of the company. The sale comes as Celestica (TSX:CLS)’s stock has shown remarkable performance, with a 235% return over the past year and a market capitalization of $15.15 billion. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $126 to $160. The shares were sold on February 7, 2025, at prices ranging from $129.63 to $132.54 per share, amounting to a total value of approximately $8.44 million.
Following the sale, Cooper holds 110,426 shares directly. The transactions were executed in multiple trades, with the prices reflecting a weighted average. The company, headquartered in Toronto, operates in the printed circuit boards industry.
In other recent news, Celestica has been in the spotlight with several financial firms adjusting their outlook on the company. RBC Capital Markets has successively raised its price target for Celestica, first from $75 to $115, then to $140, and most recently to $160, maintaining an Outperform rating throughout. These updates reflect the company’s strong financial performance and continued momentum in launching new programs, especially for hyperscaler clients.
Similarly, BMO Capital Markets lifted its price target for Celestica to $140, highlighting the company’s growing capabilities in the artificial intelligence sector and potential for increased capital expenditures. The firm maintained its Outperform rating, citing the company’s strong market positioning and recent successes in gaining market share.
In other developments, Celestica announced the upcoming resignation of Laurette T. Koellner from its Board of Directors, effective January 31, 2025. The company confirmed that the departure is not due to any disagreements over operations, policies, or practices and has begun the process of finding a suitable replacement.
These are among the recent developments surrounding Celestica, as the company continues to demonstrate strong performance and strategic initiative in its operations. Analysts from RBC Capital and BMO Capital maintain an optimistic outlook, reflecting their confidence in the company’s growth trajectory.
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