CGI

GIB · TORONTO

$81.98−$0.17 (−0.21%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $82.15

GIB analyst rating

HoldConsensus of 3 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold3
Underperform0
Sell0

12-month price target · 15 analysts

Average $86.83 (+5.9% upside)

Low: $68.32
Now: $81.98
High: $112.15

Upgrades and downgrades

The latest rating actions, newest first

GIB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Oct 6, 2026	Maintains	Sector Perform	$100.00	61%
UBS	Apr 30, 2026	Maintains	Neutral	$79.00 → $70.00	48%
RBC Capital	Apr 30, 2026	Downgrade	Outperform → Sector Perform	$150.00 → $100.00	61%
RBC Capital	Apr 1, 2026	Maintains	Outperform	$150.00	61%
Jefferies	Nov 10, 2025	Downgrade	Buy → Hold	$105.00 → $81.00	46%
RBC Capital	Nov 6, 2025	Maintains	Outperform	$175.00 → $165.00	61%

The case for and against

Updated Oct 21, 2026

Bull case

CGI is attractive because its recurring Managed IT & Business Process Services, which make up 55% of revenue, provide a defensive base while mission-critical verticals like Government, Financial Services, and Health account for about 70% of revenue and support durable demand. Its organic revenue outlook is pressured by softer consulting spend, but absolute job-posting volume is a strong leading indicator of SI&C revenue, while acquisitions, buybacks, and margin improvement are expected to drive about 10% Y/Y adjusted EPS growth, with acquisitions adding roughly 220 bps of revenue growth and shares outstanding falling 6.5% Y/Y. The firm’s balanced global delivery model, accretive M&A approach, and pristine balance sheet, combined with 11x NTM P/E and 7.3x NTM EV/EBITDA versus peers at 9.5x and 6.6x, reinforce a premium-quality compounder profile with upside if macro conditions improve.

Bear case

CGI is facing a soft near-term demand backdrop, with Q3/CY26 job postings down 25% Y/Y to 2,615 and 21% Q/Q, sharply underperforming the broader IT services group’s 14% Y/Y increase and leaving the company in the lowest quartile on both trends. Bookings rose only 1% Y/Y to $4.2B, with book-to-bill at 1.00x versus 1.08x TTM, signaling limited backlog momentum and supporting the view that Q4/FY26 organic growth may remain slightly negative. Although acquisitions, buybacks, and modest margin gains may still support about 10% Y/Y adjusted EPS growth, negative organic growth and AI-related pricing deflation are likely to keep valuation subdued near the low end of its historical range.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.