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

CGI (TSE:GIB.A) (NYSE:GIB) had its target price lifted by equities researchers at Raymond James from C$171.00 to C$180.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 15.60% from the stock’s previous close.

Several other research firms have also recently commented on GIB.A. Royal Bank of Canada raised their target price on CGI from C$170.00 to C$178.00 in a research report on Thursday. Desjardins upped their price objective on shares of CGI from C$166.00 to C$172.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. TD Securities raised their target price on shares of CGI from C$160.00 to C$180.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Canaccord Genuity Group upped their price target on shares of CGI from C$170.00 to C$175.00 in a research note on Thursday. Finally, National Bankshares raised their price objective on shares of CGI from C$175.00 to C$185.00 in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, CGI currently has an average rating of “Buy” and an average price target of C$169.83.

CGI Stock Performance

Shares of GIB.A stock traded down C$1.27 during trading hours on Thursday, reaching C$155.71. The stock had a trading volume of 98,940 shares, compared to its average volume of 328,642. The firm has a market capitalization of C$31.73 billion, a PE ratio of 21.78, 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$154.96 and a 200-day simple moving average of C$146.64. CGI has a twelve month low of C$132.06 and a twelve month 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.