CGI (TSE:GIB.A) Price Target Raised to C$108.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised CGI’s price target to C$108 from C$107, implying approximately 5.07% upside from the current share price.
• Analyst sentiment remains favorable, with seven Buy ratings and five Hold ratings; CGI has a “Moderate Buy” consensus rating and an average price target of C$124.23.
• CGI shares fell 2.1% to C$102.79, while the company’s latest quarter included C$2.29 in EPS and C$4.19 billion in revenue.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective boosted by research analysts at Canadian Imperial Bank of Commerce from C$107.00 to C$108.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective indicates a potential upside of 5.07% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial set a C$135.00 price target on shares of CGI and gave the stock an "outperform" rating in a research report on Friday, June 12th. Raymond James Financial cut their price objective on shares of CGI from C$168.00 to C$130.00 and set an "outperform" rating on the stock in a report on Thursday, April 30th. Royal Bank Of Canada lowered CGI from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from C$150.00 to C$100.00 in a report on Thursday, April 30th. BMO Capital Markets dropped their target price on CGI from C$137.00 to C$122.00 and set an "outperform" rating on the stock in a research report on Monday, April 27th. Finally, Stifel Nicolaus cut their price target on CGI from C$160.00 to C$128.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$124.23.

CGI Stock Down 2.1%

Shares of GIB.A stock traded down C$2.22 on Thursday, hitting C$102.79. The stock had a trading volume of 318,090 shares, compared to its average volume of 676,467. 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 business has a 50 day moving average price of C$93.40 and a 200 day moving average price of C$100.17. The company has a market cap of C$21.53 billion, a PE ratio of 13.42, a P/E/G ratio of 2.24 and a beta of 0.13. CGI has a one year low of C$83.34 and a one year high of C$135.39.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last issued its earnings results on Wednesday, July 29th. The company reported C$2.29 earnings per share (EPS) for the quarter. The company had revenue of C$4.19 billion for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. Research analysts anticipate that CGI will post 8.3679245 earnings per share for the current fiscal year.

CGI Company Profile

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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