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  5. GIB.A: Hello, Would you recommend CGI for a long term hold? [CGI Inc. Class A Subordinate Voting Shares]
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Q: Hello,
Would you recommend CGI for a long term hold? Can you please provide your thoughts on current valuation and debt level. Thank you.
Asked by Pierre on April 22, 2024
5i Research Answer:

We would consider it a BUY; we like its growth profile, execution and valuation. Currently it is 18X earnings, with an historical average range of 18 to 21X over the past year. Net debt is $1.9B currently, vs $2B in annual cash flow. Debt declined by close to $1B in 2023. 

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