11:11:06 EST Thu 26 Dec 2024
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
CGI Inc
Symbol GIB
Shares Issued 203,773,783
Close 2024-11-08 C$ 154.81
Market Cap C$ 31,546,219,346
Recent Sedar Documents

Globe says CGI seen having "ample dry powder"

2024-11-08 08:17 ET - In the News

The Globe and Mail reports in its Friday edition that Desjardins analyst Jerome Dubreuil is keeping his "buy" call on CGI intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Dubreuil advanced his share target by $2 to $178. Analysts on average target the shares at $168.36. With its quarterly results, The Globe says Mr. Dubreuil thinks CGI has given "investors what they are looking for -- stability and predictability." He says in a note: "In addition to its strong underlying business, the company has ample dry powder to better position itself ahead of the recovery of IT service demand—however, this is not expected to be around the corner. Similar to what most comparable peers have been saying lately, CGI is warning that an inflection point in SI&C [systems integration and consulting] is not imminent, with management guiding that the 'next couple of quarters' will be relatively soft. With the recent weakening of the Canadian dollar, we believe consensus already reflects a very slow improvement in top-line growth. Assuming no further M&A and no change in FX, organic growth implied by consensus is 1.5 per cent year-over-year in FY25, which we believe is achievable at this time."

© 2024 Canjex Publishing Ltd. All rights reserved.