The Globe and Mail reports in its Tuesday, July 25, edition that National Bank Financial analysts John Shao and Richard Tse have reaffirmed their "outperform" recommendation for CGI. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shao and Mr. Tse gave their share target a $15 boost to $175. Analysts on average target the shares at $150.85. Mr. Tse says in a note: "We believe CGI is moving back to its previous growth trajectory (both organic and inorganic) pre-COVID. Bottom line, we continue to believe CGI has more potential for outperformance given its combination of growth and defensive attributes (e.g., recurring revenue and cash flow, long-term contracts)." For the tech sector in general Mr. Shao and Mr. Tse believe "it's reasonable to take some money off the table" heading into earnings season given the "lofty" expectations from the Street. Mr. Shao and Mr. Tse say: "The sizable moves across the sector have valuations back to their 10-year average. ... Valuations are not convincing enough to support a strong view either way for the sector." The Globe reported on April 24 that Mr. Shao and Mr. Tse rated CGI "outperform." The shares were then going for $133.71.