Canaccord Genuity Group Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective hoisted by equities researchers at Canaccord Genuity Group from C$175.00 to C$190.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 9.12% from the company’s current price.

Other research analysts also recently issued research reports about the company. Raymond James raised their target price on CGI from C$171.00 to C$180.00 in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of CGI from C$180.00 to C$185.00 in a research note on Thursday. CIBC boosted their price target on shares of CGI from C$178.00 to C$183.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on CGI from C$170.00 to C$178.00 in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group boosted their target price on CGI from C$170.00 to C$175.00 in a research report on Thursday, November 7th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$178.31.

CGI Stock Performance

GIB.A stock traded up C$8.55 during midday trading on Thursday, reaching C$174.12. 157,411 shares of the company’s stock traded hands, compared to its average volume of 301,690. CGI has a 52 week low of C$132.06 and a 52 week high of C$174.87. The company has a 50-day moving average price of C$157.88 and a two-hundred day moving average price of C$153.67. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. The firm has a market capitalization of C$35.48 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

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.