CGI Inc. (NYSE: GIB) is considered one of the most undervalued Canadian stocks by hedge funds. Canaccord recently lowered its price target for CGI to C$150 while maintaining a Buy rating. TD Securities and Scotiabank analysts also weighed in on CGI’s outlook on the same day, with differing perspectives on the company’s potential.

TD Securities analyst David Kwan maintained a Buy rating and a C$145 price target for CGI, expressing confidence in the company’s ability to achieve enhanced organic growth and margin improvements. Meanwhile, Scotiabank analyst Kevin Krishnaratne assumed coverage of CGI with a Sector Perform rating and a C$140 price target, citing concerns about the company’s exposure to discretionary IT spending.

CGI Inc. (NYSE: GIB) provides IT and business process services in various regions across the globe, including Western & Southern Europe, the US, Canada, Scandinavia, and more. The company has a broad reach and serves clients in multiple industries with its IT solutions and services.

While CGI Inc. (GIB) presents potential investment opportunities, some analysts believe that other AI stocks may offer greater upside potential with less downside risk. Investors seeking undervalued AI stocks with significant growth potential should explore alternative options in the market.

Read more at Yahoo Finance: Canaccord Lowers CGI Inc. (GIB) PT to C$150 While Maintaining Buy Rating