CIBC Lowers CGI (TSE:GIB.A) to Neutral

CIBC downgraded shares of CGI (TSE:GIB.A) (NYSE:GIB) from an outperform rating to a neutral rating in a research note released on Friday, BayStreet.CA reports. They currently have C$151.00 target price on the stock, down from their prior target price of C$165.00.

Several other research firms have also commented on GIB.A. TD Securities raised CGI from a hold rating to a buy rating and cut their price objective for the company from C$165.00 to C$160.00 in a research report on Thursday, May 2nd. Canaccord Genuity Group dropped their target price on CGI from C$166.00 to C$160.00 and set a buy rating on the stock in a report on Friday, April 26th. BMO Capital Markets decreased their price target on CGI from C$170.00 to C$160.00 and set an outperform rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada dropped their price objective on shares of CGI from C$170.00 to C$163.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Finally, Desjardins decreased their target price on shares of CGI from C$164.00 to C$162.00 and set a buy rating for the company in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, CGI has a consensus rating of Moderate Buy and a consensus price target of C$160.00.

CGI Price Performance

CGI stock opened at C$136.08 on Friday. The firm has a fifty day moving average of C$139.89 and a 200-day moving average of C$145.53. CGI has a 52-week low of C$127.73 and a 52-week high of C$160.40. The company has a quick ratio of 0.97, a current ratio of 1.17 and a debt-to-equity ratio of 34.26. The firm has a market capitalization of C$28.00 billion, a P/E ratio of 19.41, a PEG ratio of 1.48 and a beta of 0.81.

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.