Jefferies initiated coverage of CGI Inc. with a Buy rating and $120 price target. The company’s revenue growth has proven “relatively resilient” in the current downturn, and should improve from low-single-digits this year to mid-single-digits next year, and high-single-digits the year after, the analyst tells investors in a research note. The firm finds CGI’s “differentiated” go-to-market strategy attractive, with a consulting and managed services offering that is “well-balanced” across verticals and geographies.
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