Royal Bank of Canada Issues Positive Forecast for CGI (TSE:GIB.A) Stock Price

CGI (TSE:GIB.A) (NYSE:GIB) had its price objective boosted by research analysts at Royal Bank of Canada from C$178.00 to C$192.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 10.27% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GIB.A. CIBC lifted their price objective on CGI from C$178.00 to C$183.00 and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus raised their price target on shares of CGI from C$180.00 to C$185.00 in a research report on Thursday. BMO Capital Markets upped their price objective on CGI from C$177.00 to C$190.00 and gave the company an “outperform” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on CGI from C$170.00 to C$175.00 in a report on Thursday, November 7th. Finally, Raymond James boosted their target price on CGI from C$171.00 to C$180.00 in a research report on Thursday, November 7th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$178.31.

CGI Stock Up 5.2 %

GIB.A traded up C$8.55 during midday trading on Thursday, reaching C$174.12. The company’s stock had a trading volume of 157,411 shares, compared to its average volume of 301,690. CGI has a 1 year low of C$132.06 and a 1 year high of C$174.87. The stock’s 50-day moving average is C$157.88 and its 200-day moving average is C$153.67. The firm has a market capitalization of C$35.48 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 2.24 and a beta of 0.86. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 34.24.

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.