Following the release of its Q4 results, RBC Capital analyst Paul Treiber has raised his price target on CGI Group (CGI Group Stock Quote, Chart, News, Analysts, Financials TSX:GIB.A).
On November 6, CGI reported its Q4 and fiscal 2024 results. The company posted Adjusted EBIT of $600.2-million on revenue of $3.66-billion, a topline that was up 4.4% year-over-year.
“I am pleased with CGI’s fourth quarter results as our team delivered increasing revenue growth, sustained earnings expansion, and strong cash from operations,” CEO François Boulanger said. “Looking ahead to fiscal year 2025, we continue to see opportunities for CGI to deliver on our full offering value proposition, which enables clients to achieve business outcomes. In addition, our financial strength deepens our position as an active consolidator.”
As reported by TipRanks, Treiber November 8 maintained his “Outperform” rating and raised his price target on CGI from $170.00 to $178.00.
For the full fiscal year, CGI reported Adjusted EBIT of $2.42-billion on revenue of $14.68-billion.
About The Author /
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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