CGI (TSE:GIB.A) Price Target Cut to C$145.00 by Analysts at TD Securities

Key Points

• TD Securities has reduced their price target for CGI from C$190.00 to C$145.00, indicating a potential upside of 13.71% from the company's previous close.
• The majority of analysts maintain a Buy rating for CGI, with an average price target of C$174.90 amidst a series of recent downgrades from other firms.
• Currently, CGI trades at C$127.52 with a market capitalization of C$28.43 billion, reflecting a range in its stock price from C$121.69 to C$175.35 over the past year.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective decreased by TD Securities from C$190.00 to C$145.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' target price would indicate a potential upside of 13.71% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. CIBC cut their target price on shares of CGI from C$183.00 to C$180.00 in a report on Monday, July 21st. Royal Bank Of Canada decreased their price objective on shares of CGI from C$185.00 to C$175.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Desjardins dropped their target price on shares of CGI from C$173.00 to C$166.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, CGI presently has a consensus rating of "Buy" and an average price target of C$174.90.

CGI Stock Performance

Shares of TSE GIB.A traded up C$1.57 during midday trading on Friday, hitting C$127.52. 228,063 shares of the company's stock were exchanged, compared to its average volume of 442,248. The firm has a market capitalization of C$28.43 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.24 and a beta of 0.37. CGI has a 12 month low of C$121.69 and a 12 month high of C$175.35. 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's 50 day moving average price is C$130.70 and its 200 day moving average price is C$139.72.

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.

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