Royal Bank of Canada Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its price target increased by equities research analysts at Royal Bank of Canada from C$178.00 to C$192.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 10.27% from the stock’s current price.

GIB.A has been the subject of several other research reports. CIBC raised their price objective on shares of CGI from C$178.00 to C$183.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on CGI from C$180.00 to C$185.00 in a research report on Thursday. Canaccord Genuity Group lifted their target price on CGI from C$175.00 to C$190.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets upped their price target on shares of CGI from C$177.00 to C$190.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their price objective on shares of CGI from C$170.00 to C$175.00 in a report on Thursday, November 7th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, CGI has a consensus rating of “Buy” and a consensus target price of C$178.31.

CGI Trading Up 5.2 %

GIB.A stock traded up C$8.55 during mid-day trading on Thursday, reaching C$174.12. 157,411 shares of the stock traded hands, compared to its average volume of 301,690. CGI has a one year low of C$132.06 and a one year high of C$174.87. The stock has a market capitalization of C$35.48 billion, a PE ratio of 24.35, a PEG ratio of 2.24 and a beta of 0.86. 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 business has a 50-day moving average price of C$157.88 and a two-hundred day moving average price of C$153.67.

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.