Canadian Imperial Bank of Commerce Lowers CGI (TSE:GIB.A) Price Target to C$112.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective dropped by equities research analysts at Canadian Imperial Bank of Commerce from C$132.00 to C$112.00 in a report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 7.21% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Desjardins set a C$157.00 target price on shares of CGI and gave the stock a “buy” rating in a research report on Thursday, January 29th. Royal Bank Of Canada dropped their price target on shares of CGI from C$165.00 to C$150.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. TD Securities lifted their price target on shares of CGI from C$145.00 to C$153.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Scotiabank set a C$140.00 price target on shares of CGI and gave the stock a “sector perform” rating in a research note on Tuesday, January 27th. Finally, Canaccord Genuity Group dropped their price target on shares of CGI from C$155.00 to C$150.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$145.44.

CGI Trading Up 1.2%

TSE GIB.A opened at C$104.47 on Friday. The company’s fifty day simple moving average is C$100.79 and its 200-day simple moving average is C$115.83. CGI has a 52 week low of C$95.84 and a 52 week high of C$152.63. 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 stock has a market cap of C$22.44 billion, a P/E ratio of 14.00, a PEG ratio of 2.24 and a beta of 0.09.

CGI (TSE:GIB.A) (NYSE:GIB) last posted its earnings results on Wednesday, January 28th. The company reported C$2.12 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$4.08 billion for the quarter. Equities research analysts predict that CGI will post 8.3679245 EPS for the current fiscal year.

About CGI

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. 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.