Raymond James Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective boosted by stock analysts at Raymond James from C$180.00 to C$183.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 6.81% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. BMO Capital Markets raised their target price on CGI from C$177.00 to C$190.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their price objective on shares of CGI from C$175.00 to C$190.00 and gave the stock a “buy” rating in a research report on Thursday. CIBC increased their price target on shares of CGI from C$178.00 to C$183.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus lifted their price objective on CGI from C$180.00 to C$185.00 in a research report on Thursday. Finally, Canaccord Genuity Group lifted their target price on shares of CGI from C$170.00 to C$175.00 in a research note on Thursday, November 7th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$178.31.

CGI Trading Down 0.7 %

CGI stock opened at C$171.33 on Thursday. CGI has a 12-month low of C$132.06 and a 12-month high of C$175.35. The company has a debt-to-equity ratio of 34.24, a current ratio of 1.16 and a quick ratio of 0.97. The stock has a market capitalization of C$34.92 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The firm has a 50 day simple moving average of C$158.26 and a 200-day simple moving average of C$153.80.

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.