The Globe and Mail reports in its Thursday, Jan. 22, edition that TD Cowen analyst John Shao continues to rate Celestica "hold," with an unchanged share target of $305 (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $370.75. Mr. Shao says in a note: "Despite our belief that the company is a major beneficiary of accelerated AI-related infrastructure build-outs from its hyperscale cloud customers, we rate Celestica 'hold' as its valuation currently exceeds industry leaders. We believe we are in the early stages of what could be a multi-year investment cycle with long-term commitments. Current demand for proprietary compute programs is being followed by an 800G networking upgrade cycle, expected to accelerate in 2025, and storage solutions. In the ATS segment, we believe the long-term growth target of 10 per cent is achievable, given the large opportunity for outsourced manufacturing, particularly in markets that require a high level of engineering expertise." The Globe reported on Oct. 23 that RBC Dominion Securities analyst Paul Treiber had reiterated his "outperform" ranking for Celestica. The shares were then going for $395.83.