CIBC Lowers CGI (TSE:GIB.A) Price Target to C$149.00

CGI (TSE:GIB.A) (NYSE:GIB) had its target price decreased by research analysts at CIBC from C$180.00 to C$149.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective would indicate a potential upside of 22.25% from the stock’s previous close.

GIB.A has been the subject of a number of other research reports. Royal Bank Of Canada decreased their price objective on shares of CGI from C$185.00 to C$175.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Desjardins decreased their price objective on shares of CGI from C$173.00 to C$166.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Finally, TD Securities decreased their price objective on shares of CGI from C$190.00 to C$145.00 and set a “buy” rating for the company in a research report on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CGI presently has a consensus rating of “Buy” and an average price target of C$171.80.

CGI Price Performance

Shares of TSE GIB.A opened at C$121.88 on Wednesday. The stock has a market capitalization of C$27.17 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.24 and a beta of 0.30. CGI has a 12 month low of C$119.51 and a 12 month high of C$175.35. The firm’s 50 day simple moving average is C$127.23 and its 200-day simple moving average is C$137.16. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

CGI Company Profile

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 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.