CGI (TSE:GIB.A) Price Target Raised to C$118.00 at Desjardins

Key Points

• Desjardins raised CGI’s price target from C$117 to C$118 while maintaining a “buy” rating, implying approximately 14.8% upside from the prior close.
• Analyst sentiment remains broadly positive: CGI has a consensus “Moderate Buy” rating and an average price target of C$124.23, based on seven Buy and five Hold ratings.
• CGI reported quarterly EPS of C$2.29 on revenue of C$4.19 billion. Its shares traded at C$102.79, with a market capitalization of approximately C$21.53 billion.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price target boosted by investment analysts at Desjardins from C$117.00 to C$118.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price target points to a potential upside of 14.80% from the stock's previous close.

GIB.A has been the topic of a number of other research reports. National Bank Financial set a C$135.00 price target on shares of CGI and gave the company an "outperform" rating in a research note on Friday, June 12th. Royal Bank Of Canada cut shares of CGI from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from C$150.00 to C$100.00 in a research report on Thursday, April 30th. BMO Capital Markets reduced their target price on shares of CGI from C$137.00 to C$122.00 and set an "outperform" rating on the stock in a research note on Monday, April 27th. Stifel Nicolaus lifted their price target on shares of CGI from C$110.00 to C$120.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Sanford C. Bernstein reduced their price objective on shares of CGI from C$143.00 to C$141.00 in a research report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, CGI currently has a consensus rating of "Moderate Buy" and a consensus price target of C$124.23.

CGI Price Performance

TSE:GIB.A traded down C$2.22 during trading hours on Thursday, reaching 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 debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. CGI has a 52 week low of C$83.34 and a 52 week high of C$135.39. The company has a 50 day moving average price of C$93.40 and a two-hundred day moving average price of C$100.17. The stock has a market capitalization of C$21.53 billion, a PE ratio of 13.42, a PEG ratio of 2.24 and a beta of 0.13.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$2.29 earnings per share (EPS) for the quarter. The business had revenue of C$4.19 billion for the quarter. CGI had a return on equity of 19.51% and a net margin of 11.51%. As a group, sell-side 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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