Softchoice (TSE:SFTC) Upgraded by Scotiabank to “Outperform” Rating

Softchoice (TSE:SFTC) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a C$24.00 price objective on the stock, up from their previous price objective of C$20.00. Scotiabank’s price target would indicate a potential upside of 13.48% from the stock’s previous close.

SFTC has been the topic of a number of other reports. ATB Capital raised Softchoice from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$18.50 to C$23.00 in a report on Monday, August 12th. Royal Bank of Canada lifted their price target on shares of Softchoice from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Finally, Cormark increased their price objective on shares of Softchoice from C$24.00 to C$25.50 in a research note on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$22.67.

Softchoice Price Performance

TSE SFTC traded up C$0.15 during trading hours on Tuesday, hitting C$21.15. The company’s stock had a trading volume of 5,235 shares, compared to its average volume of 27,094. The company has a market cap of C$1.28 billion, a P/E ratio of 23.50 and a beta of -0.14. The company’s 50 day simple moving average is C$19.87 and its two-hundred day simple moving average is C$18.53. Softchoice has a 12 month low of C$14.40 and a 12 month high of C$22.46.

About Softchoice

Softchoice Corporation designs, procures, implements, and manages information technology (IT) solutions in Canada and the United States. The company offers cloud and data center solutions, such as data center and application modernization; collaboration and digital workplace solutions comprising secure access, and adoption and change management; IT asset management solutions, including software and hardware asset management solutions, and IT procurement services; network and security support solutions.