12:25 PM EDT, 08/01/2024 (MT Newswires) -- BMO remains Outperform on CGI following the company's third quarter results, which were light on revenue and in line on earnings per share. CGI also announced the commencement of a dividend.

Analyst Thanos Moschopoulos has trimmed his forecasts for organic revenue growth, although the impact to his revenue/EPS forecasts is largely offset by the contribution from recent tuck-in M&A and more favorable FX, he noted.

"We continue to view the stock as attractive given CGI's consistent EPS execution and expanding margin profile, and our view that the dividend should provide incremental valuation support for the share price."

Target price of $177.

Price: 155.92, Change: -1.51, Percent Change: -0.96