New Buy Rating for CGI Group Cl A SV (GIB.A), the Technology Giant

By Carrie Williams

CGI Group Cl A SV (GIB.AResearch Report), the Technology company, has received a rating update from a Wall Street analyst yesterday. Analyst Phillip Huang from Barclays rated CGI Group Cl A SV (GIB.AResearch Report) a Buy, setting a C$92 price target.

According to TipRanks.com, Huang is a 5-star analyst with an average return of 9.6% and a 77.5% success rate. Huang covers the Technology sector, focusing on stocks such as Rogers Communication, CGI Group, and Open Text.

Read also: This Analyst Remains Bullish on Tesla (TSLA) Stock, Even As Earnings Release Could Show Challenges

Currently, the analyst consensus on CGI Group Cl A SV is a Strong Buy with an average price target of C$93.31, which is an 8.6% upside from current levels. In a report issued on January 16, BMO Capital also maintained a Buy rating on the stock with a C$94 price target.

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CGI Group Cl A SV’s market cap is currently C$23.95B and has a P/E ratio of 21.4. The company has a Price to Book ratio of 3.58.

CGI Group, Inc. engages in the provision of information technology (IT) and consulting services. It operates through the following segments: Northern Europe, Canada, France, U.S. Commercial and State Government, U.S. Federal, U.K., Eastern, Central and Southern Europe (ECS), and Asia Pacific Global Delivery Centers of Excellence (APC).

The company’s shares closed on Wednesday at C$85.92, close to its 52-week high of C$87.40.