Desjardins Lowers CGI (TSE:GIB.A) Price Target to C$166.00

Key Points

• Desjardins has lowered its price target for CGI (TSE:GIB.A) to C$166.00, down from C$173.00, while maintaining a "buy" rating.
• Despite the reduction in target prices by several analysts, CGI holds a consensus rating of "Buy" with an average price target of C$173.77.
• CGI's stock recently traded at C$137.50, reflecting a small increase of 0.3% during trading.

CGI (TSE:GIB.A - Get Free Report) NYSE: GIB had its target price decreased by equities research analysts at Desjardins from C$173.00 to C$166.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price objective points to a potential upside of 20.73% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada dropped their price objective on shares of CGI from C$192.00 to C$185.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Canaccord Genuity Group lowered their target price on shares of CGI from C$190.00 to C$180.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Scotiabank reduced their target price on shares of CGI from C$185.00 to C$175.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. CIBC reduced their target price on shares of CGI from C$183.00 to C$180.00 in a research report on Monday, July 21st. Finally, Raymond James Financial cut their price objective on shares of CGI from C$183.00 to C$178.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CGI presently has an average rating of "Buy" and a consensus price target of C$173.77.

CGI Trading Up 0.3%

Shares of CGI stock traded up C$0.37 during trading on Tuesday, hitting C$137.50. The company's stock had a trading volume of 184,760 shares, compared to its average volume of 424,335. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. CGI has a 52 week low of C$132.09 and a 52 week high of C$175.35. The stock has a market cap of C$28.02 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The stock has a 50-day moving average price of C$143.96 and a two-hundred day moving average price of C$149.61.

About CGI

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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