Canaccord Genuity Group Trims CGI (TSE:GIB.A) Target Price to C$160.00

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective trimmed by Canaccord Genuity Group from C$166.00 to C$160.00 in a research report released on Friday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on GIB.A. CIBC upped their price objective on shares of CGI from C$155.00 to C$169.00 and gave the company an outperform rating in a research note on Thursday, February 1st. TD Securities lowered shares of CGI from a buy rating to a hold rating and dropped their price target for the stock from C$170.00 to C$165.00 in a research report on Friday, March 22nd. BMO Capital Markets upped their price target on shares of CGI from C$155.00 to C$170.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Desjardins dropped their price target on shares of CGI from C$164.00 to C$162.00 and set a buy rating for the company in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus upped their price target on shares of CGI from C$160.00 to C$170.00 and gave the stock a buy rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of C$167.30.

CGI Stock Performance

Shares of GIB.A opened at C$139.58 on Friday. The company has a debt-to-equity ratio of 34.93, a quick ratio of 0.97 and a current ratio of 1.11. The company has a market capitalization of C$28.80 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.48 and a beta of 0.80. The company’s 50 day simple moving average is C$150.56 and its 200 day simple moving average is C$144.91. CGI has a 1 year low of C$127.73 and a 1 year high of C$160.40.

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.