CGI (TSE:GIB.A) Price Target Raised to C$110.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price target boosted by Scotia from C$95.00 to C$110.00 in a research report released on Thursday,BayStreet reports. Scotia currently has a sector perform rating on the stock.

Several other research firms have also recently weighed in on GIB.A. Stifel Nicolaus upped their price target on shares of CGI from C$120.00 to C$130.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada increased their price objective on CGI from C$100.00 to C$115.00 and gave the stock a “sector perform” rating in a research report on Thursday. National Bank Financial lifted their price objective on CGI from C$135.00 to C$145.00 and gave the company an “outperform” rating in a research note on Thursday. TD boosted their target price on CGI from C$118.00 to C$125.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Desjardins decreased their target price on CGI from C$118.00 to C$115.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$128.85.

CGI Price Performance

CGI stock traded up C$0.02 during midday trading on Thursday, reaching C$116.83. 563,400 shares of the stock were exchanged, compared to its average volume of 654,333. The company’s fifty day moving average is C$105.15 and its 200-day moving average is C$100.20. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The firm has a market cap of C$24.19 billion, a PE ratio of 14.51, a PEG ratio of 2.24 and a beta of 0.29. CGI has a 52 week low of C$83.34 and a 52 week high of C$131.97.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its earnings results on Wednesday, November 11th. The company reported C$2.31 earnings per share (EPS) for the quarter. CGI had a net margin of 11.51% and a return on equity of 19.51%. The business had revenue of C$4.15 billion for the quarter. On average, sell-side analysts forecast that CGI will post 8.37 EPS for the current year.

Latest CGI News

These are some of the GIB.A news items that stood out recently:

• Positive Sentiment: Several firms raised their targets and maintained positive ratings: National Bank Financial lifted its target to C$145 with an outperform rating; BMO raised its target to C$132 and kept outperform; Stifel Nicolaus raised its target to C$130 and kept buy; and Desjardins raised its target to C$126 and kept buy. TD also raised its target to C$125, while maintaining hold. National Bank Financial target BMO target Stifel target Desjardins target TD target
• Positive Sentiment: CGI reported C$2.31 in quarterly EPS and C$4.15 billion in revenue. Its earnings-call coverage highlighted growth, AI momentum and expansion, which may reinforce investor confidence in its growth prospects; the supplied reports do not state whether results beat expectations. Earnings call highlights Q4 earnings call transcript
• Negative Sentiment: Not all target increases imply upside: Scotia raised its target to C$110 and RBC to C$115, both below the cited share price, and each retained a sector-perform rating. This signals some analysts see limited near-term upside at current levels. Scotia target RBC target

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.