This analyst just lowered his price target on CGI Group

Desjardins Securities analyst Jerome Dubreuil lowered his target on CGI (CGI Stock Quote, Chart, News, Analysts, Financials TSX:GIB.A) to $149.00 from $157.00 in a report previewing quarterly results for IT services providers, reflecting lower growth expectations for fiscal 2026. The average target is $149.88.

As reported by the Globe and Mail, Dubreuil said recent peer results and management commentary have not pointed to any meaningful change in the IT services demand environment, which he said is encouraging given broader concerns about disruption. At the same time, he said management teams across the sector have struggled to clearly define the long-term net effect of AI on the industry.

“Recent commentary has lacked quantification and has often been too general to provide investors with strong conviction,” Dubreuil said. “We look forward to hearing more concrete examples from CGI and Alithya on their respective calls.”

Separately, CGI said on April 21 that it is expanding its global partnership with OpenAI with a focus on Codex, as the company pushes further into agentic AI deployments across software development and business workflows.

The Montreal-based company said the program is designed to help organizations use AI agents more broadly by allowing employees across different roles to design, build and manage digital solutions using natural language. CGI said the agreement also gives it early access to OpenAI’s latest capabilities as part of a select partner group.

CGI said it initially adopted Codex within software engineering, but has since expanded its use across a wider range of roles.

The companies are also working together with clients in government, public safety and commercial markets, with CGI positioning the alliance as a way to combine OpenAI’s product and research capabilities with its own systems integration and industry expertise in complex enterprise environments.

CGI said the expanded partnership will also include broader activation programs with OpenAI, including innovation programs, bootcamps, training and early access to future Codex launches, alongside expanded joint go-to-market efforts.

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