CGI Inc. (GIB-A.TO) was downgraded to Hold from Buy at TD Securities on Thursday.
Analyst David Kwan lowered his price target on shares of the Montreal-based information technology consulting company to C$99 from C$102.
"The stock has significantly outperformed in recent months, especially versus" Accenture (ACN), Kwan said in a note to clients. "We don't view Q3 consensus as aggressive, but we think any miss/weak data point(s) could lead to near-term pressure in the stock," the analyst said.
CGI is set to report fiscal Q3 results on July 29.
(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)