Canadian Imperial Bank of Commerce Lowers CGI (TSE:GIB.A) Price Target to C$112.00

Key Points

• Canadian Imperial Bank of Commerce cut its price target on CGI from C$132.00 to C$112.00, implying about a 7.18% upside from the stock's current price.
• Despite that downgrade, the analyst consensus remains a Moderate Buy (five Buy ratings, two Hold) with a consensus price target of C$145.44.
• Shares recently traded at C$104.50 (up ~1.2%); CGI reported C$2.12 EPS for the quarter, has a P/E of 14.01 and a market capitalization of C$22.44 billion.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective decreased by Canadian Imperial Bank of Commerce from C$132.00 to C$112.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target points to a potential upside of 7.18% from the stock's current price.

A number of other research firms have also recently commented on GIB.A. TD Securities boosted their target price on shares of CGI from C$145.00 to C$153.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. BMO Capital Markets cut their price target on shares of CGI from C$145.00 to C$137.00 in a report on Thursday, January 29th. Desjardins set a C$157.00 price target on shares of CGI and gave the company a "buy" rating in a report on Thursday, January 29th. Scotiabank set a C$140.00 price target on shares of CGI and gave the company a "sector perform" rating in a report on Tuesday, January 27th. Finally, Canaccord Genuity Group cut their price target on shares of CGI from C$155.00 to C$150.00 and set a "buy" rating on the stock in a report on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, CGI presently has an average rating of "Moderate Buy" and a consensus price target of C$145.44.

CGI Stock Up 1.2%

Shares of TSE GIB.A traded up C$1.26 during trading on Friday, reaching C$104.50. 339,937 shares of the stock were exchanged, compared to its average volume of 664,215. The business's 50-day moving average price is C$100.96 and its 200 day moving average price is C$116.02. CGI has a twelve month low of C$95.84 and a twelve month high of C$152.63. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The company has a market capitalization of C$22.44 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.24 and a beta of 0.09.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last posted its earnings results on Wednesday, January 28th. The company reported C$2.12 EPS for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The business had revenue of C$4.08 billion for the quarter. As a group, equities analysts forecast that CGI will post 8.3679245 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 91,000 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.