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Gold/Mining/Energy : CGI Group (GIB.A) -

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To: Jean-Robert Grenier who wrote (704)	9/4/1998 9:40:00 AM
From: Sili Investor	Read Replies (1) of 1673

In my opinion, it was probably a couple of funds that needed to reduce their positions and had to "dump" shares, resulting in downward pressure on the share price. Once the panic was removed from the market on Tuesday, the funds probably reassessed their positions and decided to hold on what they had. As well, two new analysts began coverage with buy and strong buy recommendations. This coverage would have had more buyers than sellers in the market. Thirdly, if you look at CGI's 1999 earnings projections, a $23-$24 price is only around a P/E of around 30 to 35. Still cheap for a growth company with a great story, long term business, no debt and agressive management.

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