Calian Group (TSE:CGY) Price Target Raised to C$87.00 at Desjardins

Calian Group Inc. (TSX: CGI) announced that its price target has been raised from C$85.00 to C$87.00 by Desjardins Capital Markets. The new price target reflects the company's strong financial performance and growth prospects, as well as its continued expansion in key markets such as cybersecurity and healthcare.

Calian Group is a leading provider of innovative solutions for defense, security, health, and IT services. The company has a diverse portfolio of businesses that includes cybersecurity, information technology, engineering, and healthcare services. In recent years, Calian Group has made significant investments in its cybersecurity business, which has seen strong growth due to increasing demand from government and commercial customers.

Desjardins Capital Markets analysts believe that Calian Group's strong financial performance and growth prospects justify the higher price target. The company's revenue for the fiscal year ended March 31, 2021 was C$4.5 billion, up from C$4.2 billion in the previous year. The company's net income for the same period was C$178 million, up from a loss of C$16 million in the previous year.

In addition to its strong financial performance, Calian Group also has a number of growth opportunities ahead of it. The company is well-positioned to benefit from increasing demand for cybersecurity and healthcare services, as well as its ongoing expansion into new markets such as artificial intelligence and cloud computing.

Overall, the higher price target reflects Desjardins Capital Markets' confidence in Calian Group's ability to continue delivering strong financial performance and growth opportunities for its shareholders.