BMO Capital Markets Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

Key Points

• BMO Capital Markets raised its price target on CGI to C$132 from C$117 and maintained an “outperform” rating, implying about 13% upside from the stock’s then-current price.
• Analyst sentiment is broadly positive: CGI has a “Moderate Buy” consensus rating and an average price target of C$128.85, with seven Buy ratings and five Hold ratings.
• CGI reported quarterly EPS of C$2.31 and revenue of C$4.15 billion; analysts expect full-year EPS of C$8.37.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective upped by research analysts at BMO Capital Markets from C$117.00 to C$132.00 in a research note issued to investors on Thursday, BayStreet reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets's price objective would indicate a potential upside of 13.07% from the company's current price.

Other equities research analysts also recently issued research reports about the company. National Bank Financial increased their price target on CGI from C$135.00 to C$145.00 and gave the stock an "outperform" rating in a research report on Thursday. Royal Bank Of Canada raised their price objective on CGI from C$100.00 to C$115.00 and gave the stock a "sector perform" rating in a research note on Thursday. Canadian Imperial Bank of Commerce lifted their price objective on CGI from C$107.00 to C$108.00 in a report on Thursday, July 30th. Scotia upped their target price on CGI from C$95.00 to C$110.00 and gave the company a "sector perform" rating in a research report on Thursday. Finally, Stifel Nicolaus upped their target price on CGI from C$120.00 to C$130.00 and gave the company a "buy" rating in a research report on Thursday. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$128.85.

CGI Stock Performance

TSE GIB.A traded up C$1.13 during trading on Thursday, reaching C$116.74. The company's stock had a trading volume of 334,444 shares, compared to its average volume of 653,051. The firm has a 50 day moving average price of C$104.56 and a 200 day moving average price of C$100.25. CGI has a 12 month low of C$83.34 and a 12 month high of C$131.97. The firm has a market capitalization of C$24.17 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 2.24 and a beta of 0.29. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last announced its earnings results on Wednesday, November 11th. The company reported C$2.31 EPS for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The company had revenue of C$4.15 billion for the quarter. As a group, equities analysts anticipate that CGI will post 8.37 EPS for the current fiscal year.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results.

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