CIBC Capital Markets upgraded Kinaxis Inc. (KXS.TO) and downgraded CGI Inc. (GIB-A.TO, GIB).
Analyst Stephanie Price raised her rating on Kinaxis to Outperformer from Neutral, and increased her price target on shares of the Ottawa-based software company to $203 from $201.
In a note to clients, Price said the upgrade is a result of "increased confidence in Kinaxis's growth profile."
The analyst reduced her rating on CGI to Neutral from Outperformer, and lowered her price target on the Montreal-based IT consulting company to $139 from $149.
In her report on CGI, Price said "we expect near-term volatility to continue amid demand uncertainty."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)