CGI (TSE:GIB.A) Upgraded by CIBC to “Outperform”

CIBC upgraded shares of CGI (TSE:GIB.A) (NYSE:GIB) from a neutral rating to an outperform rating in a research note published on Tuesday morning, BayStreet.CA reports. They currently have C$178.00 price objective on the stock, up from their prior price objective of C$155.00.

Several other brokerages have also issued reports on GIB.A. Royal Bank of Canada raised their price objective on CGI from C$163.00 to C$170.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. National Bankshares raised their price target on CGI from C$175.00 to C$185.00 in a research note on Thursday, August 1st. Scotiabank boosted their price objective on CGI from C$160.00 to C$170.00 in a research note on Friday, August 2nd. Sanford C. Bernstein raised their target price on shares of CGI from C$127.00 to C$138.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price target on shares of CGI from C$121.00 to C$132.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CGI currently has a consensus rating of “Buy” and a consensus price target of C$167.17.

CGI Stock Up 0.6 %

Shares of TSE GIB.A opened at C$160.58 on Tuesday. The business has a 50-day moving average of C$152.80 and a two-hundred day moving average of C$145.91. The company has a market capitalization of C$32.72 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. CGI has a 1 year low of C$129.00 and a 1 year high of C$160.75. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97.

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.