Celestica shares surge 5.16% premarket after BofA initiates 'Buy' rating and $400 price target on AI infrastructure momentum.

Celestica (TSX:CLS) rose 5.16% in premarket trading following BofA initiating coverage with a 'Buy' rating and a $400 price target, emphasizing its role in AI-driven white box networking switches. Analysts highlighted growing demand for data center infrastructure, despite valuation concerns and insider selling. Recent strong Q4 results, including 64% revenue growth in CCS and robust cash flow, also reinforced investor optimism, though customer concentration and valuation risks remain. The stock’s rebound follows a prior 7.26% decline, with bulls focusing on AI infrastructure tailwinds and new institutional attention.