CGI (TSE:GIB.A) Rating Lowered to Neutral at CIBC

CGI (TSE:GIB.A) (NYSE:GIB) was downgraded by CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, BayStreet.CA reports. They presently have a C$151.00 price target on the stock, down from their previous price target of C$165.00. CIBC’s price objective suggests a potential upside of 11.09% from the company’s current price.

Several other brokerages also recently weighed in on GIB.A. Sanford C. Bernstein boosted their price objective on shares of CGI from C$126.00 to C$127.00 in a research report on Thursday, May 2nd. 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. BMO Capital Markets reduced their price target 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. 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. Finally, TD Securities upgraded shares of CGI from a “hold” rating to a “buy” rating and reduced their price target for the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$160.00.

CGI Stock Down 0.4 %

Shares of TSE:GIB.A opened at C$135.93 on Friday. The company has a market capitalization of C$27.97 billion, a PE ratio of 19.39, a P/E/G ratio of 1.48 and a beta of 0.81. The company has a current ratio of 1.17, a quick ratio of 0.97 and a debt-to-equity ratio of 34.26. CGI has a twelve month low of C$127.73 and a twelve month high of C$160.40. The firm has a 50 day simple moving average of C$140.01 and a 200-day simple moving average of C$145.54.

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.