The Globe and Mail reports in its Friday edition that Desjardins analyst Jerome Dubreuil has reaffirmed his "buy" recommendation for CGI. The Globe's David Leeder writes that Mr. Dubreuil raised his share target by a loonie to $164. Analysts on average target the shares at $158.50. Mr. Dubreuil notes CGI is trading at an all-time high despite a "decelerating" top line. Mr. Dubreuil thinks the market is giving CGI "the benefit of the doubt on the timeline for stronger revenue growth." Mr. Dubreuil says in a note: "This creates a situation with less potential upside, but we are also among those anticipating a rebound in the near term based on growing optimism among global peers and sustained strength in bookings CGI has reported lately. We also believe CGI's valuation relative to the market and peers is attractive. ... Barring significant M&A, we expect management will step up stock repurchases as it aims to achieve its guidance of double-digit EPS growth. It could be challenging to generate this growth without a strong pace of buybacks, in our opinion. Meanwhile, during the conference call, CEO George Schindler sounded more optimistic about M&A given the company's capabilities and current valuations."