Softchoice (TSE:SFTC) Downgraded to Sector Perform Rating by Scotiabank

Softchoice (TSE:SFTC) was downgraded by analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report issued on Friday,BayStreet.CA reports. They presently have a C$25.50 target price on the stock, up from their prior target price of C$24.00. Scotiabank’s target price would suggest a potential upside of 5.24% from the company’s previous close.

SFTC has been the topic of several other research reports. Cormark cut Softchoice from a “buy” rating to a “tender” rating and lowered their price objective for the stock from C$25.50 to C$24.50 in a research report on Thursday. National Bankshares downgraded shares of Softchoice from an “outperform” rating to a “tender” rating and boosted their price objective for the company from C$23.00 to C$24.50 in a report on Thursday. CIBC downgraded shares of Softchoice from a “neutral” rating to a “tender” rating and lifted their price target for the company from C$23.00 to C$24.50 in a research report on Thursday. Finally, ATB Capital downgraded Softchoice from an “outperform” rating to a “tender” rating and reduced their price target for the stock from C$26.00 to C$24.50 in a research report on Thursday. Two research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$23.92.

Softchoice Trading Up 0.3 %

SFTC stock traded up C$0.08 during mid-day trading on Friday, hitting C$24.23. 27,783 shares of the company were exchanged, compared to its average volume of 198,046. Softchoice has a 1-year low of C$15.15 and a 1-year high of C$24.45. The business has a 50 day simple moving average of C$22.32 and a 200-day simple moving average of C$19.53. The stock has a market capitalization of C$1.46 billion, a PE ratio of 26.92 and a beta of -0.14.

Softchoice Company Profile

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.