CGI (TSE:GIB.A) Stock Price Expected to Rise, TD Analyst Says

Key Points

• TD raised CGI’s price target from C$99 to C$118 while maintaining a “hold” rating, implying 14.8% potential upside from the previous close.
• Analyst sentiment remains positive overall: CGI has seven “buy” ratings and five “hold” ratings, resulting in a “Moderate Buy” consensus and an average target price of C$124.23.
• CGI shares fell 2.1% to C$102.79 during Thursday trading. In its latest quarter, the company reported C$2.29 EPS and C$4.19 billion in revenue.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its price objective lifted by research analysts at TD from C$99.00 to C$118.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD's price objective points to a potential upside of 14.80% from the company's previous close.

GIB.A has been the topic of several other reports. BMO Capital Markets cut their price target on shares of CGI from C$137.00 to C$122.00 and set an "outperform" rating on the stock in a report on Monday, April 27th. Canaccord Genuity Group reduced their price target on shares of CGI from C$150.00 to C$140.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. National Bank Financial set a C$135.00 price target on CGI and gave the stock an "outperform" rating in a research note on Friday, June 12th. Canadian Imperial Bank of Commerce boosted their price objective on CGI from C$107.00 to C$108.00 in a report on Thursday. Finally, Royal Bank Of Canada cut 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 note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$124.23.

CGI Stock Down 2.1%

TSE GIB.A traded down C$2.22 during mid-day trading on Thursday, reaching C$102.79. 318,090 shares of the company's stock traded hands, compared to its average volume of 676,467. CGI has a 1-year low of C$83.34 and a 1-year high of C$135.39. The company has a fifty day simple moving average of C$93.40 and a 200-day simple moving average of C$100.17. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The company has a market cap of C$21.53 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 2.24 and a beta of 0.13.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB last announced 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 return on equity of 19.51% and a net margin of 11.51%. As a group, equities research analysts expect that CGI will post 8.3679245 EPS for the current 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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