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CGY stock wins target raise at Desjardins

CGY Stock

After attending the company’s investor day, Desjardins Securities analyst Benoit Poirier has lifted his price target on Calian Group (Calian Group Stock Quote, Chart, News, Analysts, Financials TSX:CGY).

As reported by the Globe and Mail, the analyst raised his price target on CGY from $78.00 to $86.00, while maintaining his “Buy” rating on the stock.

“We have just returned from CGY’s well-attended investor day, where management outlined its new capital strategy and how it will achieve $1-billion in revenue by FY26,” Poirier wrote in a research update to clients. “Our takeaway is positive as it seems management will take a more aggressive approach on the M&A front, with acquisitions driving the majority of the growth. Greater leveraging of the balance sheet should be welcomed by investors as CGY has historically been quite conservative with its use of debt, which has likely hurt from a return perspective. We encourage investors to revisit the CGY story given the potential for significant value creation associated with the company’s growth aspirations, recurring revenue and proven M&A strategy.”

At press time, shares of CGY were down 1.2 per cent to $60.44.


Founded in 1982 as a single-person consulting firm, Ottawa-based Calian Group has grown into a company that posted $659-million in revenue in fiscal 2023. The company creates business services and solutions for government and commercial customers.

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