CGI (TSE:GIB.A) Price Target Raised to C$120.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised CGI’s price target to C$120 from C$110 and maintained a “buy” rating, implying 16.74% upside from the stock’s previous close.
• Analyst sentiment remains favorable, with seven “buy” ratings and five “hold” ratings, resulting in a consensus “Moderate Buy” rating and an average target of C$124.23.
• CGI reported quarterly EPS of C$2.29 and revenue of C$4.19 billion, with an 11.51% net margin and 19.51% return on equity; shares closed at C$102.79 after declining C$2.22.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective increased by equities research analysts at Stifel Nicolaus from C$110.00 to C$120.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 16.74% from the stock's previous close.

Several other analysts have also issued reports on the stock. Desjardins reduced their price target on shares of CGI from C$147.00 to C$117.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. National Bank Financial set a C$135.00 target price on CGI and gave the stock an "outperform" rating in a research note on Friday, June 12th. Scotia cut their target price on CGI from C$120.00 to C$110.00 and set a "sector perform" rating for the company in a research note on Thursday, April 30th. TD raised their target price on CGI from C$99.00 to C$118.00 and gave the company a "hold" rating in a report on Thursday. Finally, Sanford C. Bernstein decreased their price target on CGI from C$143.00 to C$141.00 in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, CGI has a consensus rating of "Moderate Buy" and a consensus price target of C$124.23.

CGI Price Performance

GIB.A traded down C$2.22 on Thursday, hitting C$102.79. 318,090 shares of the stock were exchanged, compared to its average volume of 676,467. CGI has a 12 month low of C$83.34 and a 12 month high of C$135.39. The business has a 50-day moving average of C$93.40 and a two-hundred day moving average of C$100.17. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The firm has a market capitalization of C$21.53 billion, a price-to-earnings 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 announced its quarterly earnings data on Wednesday, July 29th. The company reported C$2.29 earnings per share (EPS) for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The firm had revenue of C$4.19 billion for the quarter. Sell-side 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 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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