CGI (TSE:GIB.A) Lifted to “Outperform” at CIBC

CGI (TSE:GIB.A) (NYSE:GIB) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a C$178.00 target price on the stock, up from their previous target price of C$155.00. CIBC’s price target suggests a potential upside of 11.77% from the stock’s previous close.

GIB.A has been the subject of several other reports. Royal Bank of Canada upped their target price on CGI from C$163.00 to C$170.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of CGI from C$170.00 to C$180.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein boosted their target price on shares of CGI from C$127.00 to C$138.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James raised their target price on CGI from C$167.00 to C$171.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Scotiabank lifted their price objective on shares of CGI from C$160.00 to C$170.00 in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$167.17.

CGI Stock Performance

TSE:GIB.A traded up C$0.57 during trading hours on Tuesday, reaching C$159.25. 157,007 shares of the company’s stock were exchanged, compared to its average volume of 333,960. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 34.24. The company has a 50-day moving average of C$152.33 and a 200 day moving average of C$145.64. CGI has a 1-year low of C$129.00 and a 1-year high of C$160.40. The firm has a market capitalization of C$32.45 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 1.48 and a beta of 0.86.

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.