CGI price target lowered to $135 from $140 at Jefferies

Jefferies lowered the firm’s price target on CGI (GIB) to $135 from $140 and keeps a Buy rating on the shares. The firm, which notes that its Q4 and 2025 estimates for the Technology and Information Services group are mostly unchanged other than a stronger U.S. dollar negatively impacting revenues, expects positive commentary from most management teams as discretionary spend shows signs of picking up, the analyst tells investors in a group preview note.