CGI (TSE:GIB.A) Price Target Raised to C$138.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective hoisted by stock analysts at Sanford C. Bernstein from C$127.00 to C$138.00 in a report released on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Sanford C. Bernstein’s price target would indicate a potential downside of 11.45% from the stock’s current price.

A number of other brokerages have also recently commented on GIB.A. CIBC cut shares of CGI from an “outperform” rating to a “neutral” rating and cut their price target for the company from C$165.00 to C$151.00 in a research note on Friday, June 21st. Royal Bank of Canada dropped their price objective on shares of CGI from C$170.00 to C$163.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Canaccord Genuity Group dropped their price objective on shares of CGI from C$166.00 to C$160.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Raymond James increased their price objective on shares of CGI from C$167.00 to C$171.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their price objective on shares of CGI from C$121.00 to C$132.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CGI presently has an average rating of “Moderate Buy” and an average target price of C$164.83.

CGI Stock Performance

GIB.A stock traded down C$1.58 during trading hours on Thursday, reaching C$155.85. The stock had a trading volume of 273,353 shares, compared to its average volume of 333,139. The stock has a market capitalization of C$32.06 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The company has a debt-to-equity ratio of 34.26, a current ratio of 1.17 and a quick ratio of 0.97. The stock has a 50-day simple moving average of C$140.86 and a 200 day simple moving average of C$145.89. CGI has a fifty-two week low of C$129.00 and a fifty-two week high of C$160.40.

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.