CGI (GIB.A) Hits New 1-Year High on Analyst Upgrade
CGI Inc (TSE:GIB.A) (NYSE:GIB) shares reached a new 52-week high during trading on Monday after Raymond James raised their price target on the stock from C$94.00 to C$100.00. Raymond James currently has an outperform rating on the stock. CGI traded as high as C$94.77 and last traded at C$94.56, with a volume of 194025 shares trading hands. The stock had previously closed at C$93.52.
Several other analysts have also recently commented on the company. BMO Capital Markets upped their target price on CGI from C$94.00 to C$95.00 and gave the company an “outperform” rating in a report on Thursday, January 31st. TD Securities increased their price target on CGI from C$96.00 to C$97.00 and gave the company a “buy” rating in a research report on Thursday, January 31st. CIBC upped their price objective on CGI from C$90.00 to C$92.00 in a research note on Tuesday, March 12th. Barclays reiterated a “buy” rating and set a C$92.00 price target on shares of CGI in a research note on Thursday, January 31st. Finally, Canaccord Genuity raised their target price on CGI from C$90.00 to C$95.00 in a research note on Thursday, January 31st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of C$92.85.
The company has a market capitalization of $22.97 billion and a PE ratio of 23.95. The company has a debt-to-equity ratio of 28.03, a current ratio of 1.00 and a quick ratio of 0.84.
About CGI (TSE:GIB.A)
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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