CGI price target raised to C$175 from C$170 at Canaccord

Canaccord analyst Robert Young raised the firm’s price target on CGI (GIB) to C$175 from C$170 and keeps a Buy rating on the shares. The firm said they reported strong FQ4 results that beat modestly across all major metrics. Top-linegrowth was 4.4% which is an improvement despite continued pressure on discretionary IT spend, largely impacting the consulting business.