CIBC Lowers CGI (TSE:GIB.A) to Neutral

CGI (TSE:GIB.AGet Free Report) (NYSE:GIB) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Friday, BayStreet.CA reports. They currently have a C$151.00 target price on the stock, down from their previous target price of C$165.00. CIBC’s target price suggests a potential upside of 10.84% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada reduced their price target on shares of CGI from C$170.00 to C$163.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Sanford C. Bernstein increased their price target on shares of CGI from C$126.00 to C$127.00 in a research report on Thursday, May 2nd. Canaccord Genuity Group reduced their price target on shares of CGI from C$166.00 to C$160.00 and set a “buy” rating for the company in a research report on Friday, April 26th. BMO Capital Markets cut their target price on shares of CGI from C$170.00 to C$160.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Finally, TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating and cut their target price for the stock from C$165.00 to C$160.00 in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, CGI presently has an average rating of “Moderate Buy” and a consensus price target of C$160.00.

Check Out Our Latest Analysis on GIB.A

CGI Stock Performance

GIB.A traded down C$0.29 during trading on Friday, hitting C$136.23. 913,026 shares of the company traded hands, compared to its average volume of 330,015. The firm has a market cap of C$28.03 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The stock’s fifty day moving average is C$140.17 and its 200 day moving average is C$145.53. The company has a quick ratio of 0.97, a current ratio of 1.17 and a debt-to-equity ratio of 34.26. CGI has a one year low of C$127.73 and a one year high of C$160.40.

CGI Company Profile

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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.

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Analyst Recommendations for CGI (TSE:GIB.A)

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