Celestica Inc (CLS-T)

Not in his fund, but in separately managed accounts. Fantastic job on the supply side. 12-month price target of $199. If you own it, hold on. Add around $148, and another 1/3 around $140.

CLS did raise guidance a little bit, but the stock declined about 4% after the news release. Analysts had expected more of a material raise in guidance. Still, the quarter was good, and the stock is cheap at 19X earnings. We would be comfortable on the buy side here still.
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Good company. Benefited from a lot of things that may change, like sentiment on AI. He'd wait to see whether its expenditures come off from the big companies, which could prompt more volatility.

Its volume traded has picked up over the past couple of years as its stock has performed well, but per our rough math on a weekly basis it has been trading about 4% of its total outstanding shares. 

CLS has about 116M shares outstanding, and the average daily volume in 2025 is about 1M shares. On a 5-day week, that means roughly 5M shares trade out of 116M total outstanding. It is pretty liquid at a $13.5B market cap, and while it has declined significantly alongside the broader market, we continue to like the name.
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Canadian manufacturing company that will benefit from AI revolution.

He's taking a look. Its business will have steady demand. Many companies absolutely depend on it, and that's the advantage.

Tariffs are being seen to hit the tech space to a greater degree. He doesn't know why this name in particular is being targeted. Believes all the tech stocks being hit today will bounce from here, though he's skeptical about a long-term trend up.

If you absolutely need the cash tomorrow, sell today. Otherwise, wait a day or two for a bounce.

They cleaned up their balance sheet and bought back a lot of shares, but when they hit on the AI data centre theme, it took off. Their last quarter was great. Growth is there and their valuation beats almost all other data centre stocks. Are growing their backlog. You can buy it now.

He follows this, is on his shopping list. It's a great AI connectivity stock. Their CCS segment saw massive demand in 2024, increasing market share. They project revenue this year just under $10 billion. Margins in this sector are slim, so volume is key, which CLS is good with.

Extremely volatile chart. Second half of last year was absolutely awesome, then a big selloff down 30% in a day because of DeepSeek, and a recovery bounce back. The tumble afterward is concerning. Near bottom of his RSI rankings. Trying to come back, so far so good.

What a ride since last summer, but look at the fall. Lost 50% in a couple of months. Management is great, wonderful execution. Caught up in euphoria of AI and chips -- now it's the deflation of that craze, similar to 1999-2000.

Volatile recently with NVDA's results and chip worries. A bet on AI. Spectacular results. Growing quickly, reasonable valuation. He'd prefer a higher-quality US name and less of a derivative play.

Recent concerns over what was going on in China and DeepSeek, and everything rolled over. Supply-chain solutions around the world. Still good runway to price target.

Volatile the past year, though paying great returns. After a sleepy history, it is now benefitting from the AI build-out as it works with Broadcom. The recent downturn is tied to headlines of a slowdown in building date centres. Ultimately, revenues will increase over 2-3 years, and the 2028 outlook will drive this stock higher.

Analyze companies day by day, ask if it's still meeting expectations. He owns this one in his Canadian portfolio, and in his US small-cap. Last week, it reaffirmed 2025 growth expectations. More than 1/2 its business is directed at data centre development. Parabolic move, but fundamentals have also grown very well. Valuation still undemanding. 

Keep an eye on it, and don't get carried away with price momentum. Trim if it gets too big a position in your portfolio. There's a difference between a trim (portfolio management) and a sell (based on fundamental value).