18 Trending AI Stocks on Latest Analyst Ratings and News

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14. Celestica Inc. (NYSE:CLS)

Number of Hedge Fund Holders: 38 

Celestica Inc. (NYSE:CLS) offers a range of product manufacturing and related supply chain services. The share price of the firm has rallied in the past few months, even surpassing the returns of chip giant NVIDIA, due to the increase in demand for data center infrastructure. The success of the firm in this space can be attributed to the full stack of supply chain and manufacturing services it offers to AI data center clients, a list that includes high profile customers like Meta Platforms and Amazon. The stock is also undervalued compared to AI peers, with a 20x forward P/E, indicating 26% upside potential. The firm markets network panels, switches, and cable for data center needs.

Celestica Inc. (NYSE:CLS) is in focus on Wall Street as AI spending skyrockets. Canaccord analyst Robert Young recently raised the price target on the stock to $70 from $53 and kept a Buy rating, underlining that the firm had reported another strong quarter with Q2 results ahead of consensus on all metrics, a strong Q3 outlook, and fiscal 2024 guidance that was raised across the board.

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