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UPDATE: Cantor Fitzgerald Initiates CGI Group at Buy

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Cantor Fitzgerald initiated coverage on CGI Group (NYSE: GIB) with a Buy rating and a $30 price target.

Cantor Fitzgerald commented, "We like the recent Logica transaction from a strategic standpoint as Logica is complimentary with its European footprint and allows CGI to offer customers true global presence. We certainly see the risk in a European acquisition at this time, but believe the nature of Logica's revenue base as well as the low acquisition multiple offset these concerns."

CGI Group closed at $25.50 on Wednesday.

Latest Ratings for GIB

DateFirmActionFromTo
Dec 2016Goldman SachsDowngradesNeutralSell
Nov 2016Societe GeneraleDowngradesBuyHold
Nov 2016DundeeMaintainsBuy

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