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

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 price objective cut by investment analysts at Desjardins from C$173.00 to C$166.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target indicates a potential upside of 26.11% from the stock's current price.

Several other brokerages have also commented on GIB.A. Canaccord Genuity Group decreased 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 research report on Thursday, May 1st. Royal Bank Of Canada decreased their target price on shares of CGI from C$192.00 to C$185.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial decreased their target price on shares of CGI from C$183.00 to C$178.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Scotiabank decreased their target price on shares of CGI from C$185.00 to C$175.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, CIBC decreased their target price on shares of CGI from C$183.00 to C$180.00 in a research report on Monday, July 21st. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$179.40.

CGI Price Performance

Shares of TSE GIB.A traded down C$1.95 during trading on Tuesday, hitting C$131.63. 464,479 shares of the company were exchanged, compared to its average volume of 429,533. The company has a market cap of C$26.82 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 2.24 and a beta of 0.86. CGI has a 1 year low of C$131.48 and a 1 year high of C$175.35. The firm's fifty day moving average price is C$142.82 and its 200 day moving average price is C$149.12. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

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.