Canaccord Genuity Group Issues Pessimistic Forecast for CGI (TSE:GIB.A) Stock Price

CGI (TSE:GIB.A) (NYSE:GIB) had its target price dropped by equities researchers at Canaccord Genuity Group from C$190.00 to C$180.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 24.30% from the stock’s current price.

A number of other research firms also recently weighed in on GIB.A. BMO Capital Markets upped their target price on CGI from C$177.00 to C$190.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James upped their price objective on CGI from C$180.00 to C$183.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Royal Bank of Canada lowered their target price on CGI from C$192.00 to C$185.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Scotiabank cut their price target on shares of CGI from C$185.00 to C$175.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Desjardins lifted their price objective on shares of CGI from C$178.00 to C$190.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CGI has a consensus rating of “Buy” and a consensus target price of C$175.85.

CGI Trading Up 0.2 %

Shares of TSE:GIB.A opened at C$144.81 on Thursday. The company has a 50 day moving average of C$145.49 and a 200-day moving average of C$154.96. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24. The firm has a market cap of C$29.51 billion, a P/E ratio of 20.25, a P/E/G ratio of 2.24 and a beta of 0.86. CGI has a twelve month low of C$132.06 and a twelve month high of C$175.35.

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.