The Globe and Mail reports in its Wednesday, Jan. 28, edition that Scotia Capital analyst Kevin Krishnaratne has assumed coverage on CGI with a "sector perform" recommendation and a $140 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $176.50. Krishnaratne is "more neutral" on the IT services sector after a "challenging 2025, when related stocks came under significant pressure due to macro uncertainty that slowed discretionary consulting projects, enterprise artificial intelligence (AI) adoption trends and initial Department of Government Efficiency (DOGE) concerns." Mr. Krishnaratne says in a note: "Our neutral view on CGI mainly relates to the company's exposure to discretionary IT spending (within the consulting portion of its systems integration and consulting [SI&C] business). CGI's SI&C segment has been posting book-to-bill ratios of less than 100 per cent over the past several quarters, contributing to softer top-line trends (flat to slightly negative organic growth) that we believe will persist through at least 1H/F26." The Globe reported on Dec. 16 that CIBC had cut CGI to "neutral" from "outperformer." It was then worth $125.32.