Sanford C. Bernstein Forecasts Strong Price Appreciation for CGI (TSE:GIB.A) Stock

CGI (TSE:GIB.A) (NYSE:GIB) had its target price lifted by analysts at Sanford C. Bernstein from C$137.00 to C$142.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Sanford C. Bernstein’s price target suggests a potential upside of 18.48% from the stock’s current price.

A number of other brokerages also recently weighed in on GIB.A. Desjardins lowered their target price on shares of CGI from C$169.00 to C$160.00 and set a “buy” rating on the stock in a research note on Tuesday. TD Securities lowered their target price on shares of CGI from C$190.00 to C$145.00 and set a “buy” rating on the stock in a research note on Friday, October 3rd. Royal Bank Of Canada lowered their target price on shares of CGI from C$185.00 to C$175.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. CIBC lowered their target price on shares of CGI from C$180.00 to C$149.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Raymond James Financial decreased their price target on shares of CGI from C$178.00 to C$168.00 in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$167.64.

CGI Price Performance

GIB.A traded down C$6.43 on Thursday, reaching C$119.85. The company had a trading volume of 355,406 shares, compared to its average volume of 444,808. The business has a 50 day simple moving average of C$126.40 and a 200 day simple moving average of C$136.49. The company has a market cap of C$26.72 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 2.24 and a beta of 0.27. The company has a debt-to-equity ratio of 34.24, a quick ratio of 0.97 and a current ratio of 1.16. CGI has a 52-week low of C$119.33 and a 52-week high of C$175.35.

CGI Company Profile

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 91,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions.