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

Scotiabank cut shares of Softchoice (TSE:SFTC) from an outperform rating to a sector perform rating in a research note published on Friday morning,BayStreet.CA reports. They currently have C$25.50 target price on the stock, up from their previous target price of C$24.00.

A number of other brokerages have also weighed in on SFTC. CIBC lowered shares of Softchoice from a “neutral” rating to a “tender” rating and raised their price objective for the company from C$23.00 to C$24.50 in a report on Thursday. ATB Capital cut Softchoice from an “outperform” rating to a “tender” rating and cut their price target for the company from C$26.00 to C$24.50 in a research note on Thursday. National Bankshares cut Softchoice from an “outperform” rating to a “tender” rating and upped their price objective for the stock from C$23.00 to C$24.50 in a research report on Thursday. Finally, Cormark lowered Softchoice from a “buy” rating to a “tender” rating and cut their target price for the stock from C$25.50 to C$24.50 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$23.92.

Softchoice Stock Performance

Shares of SFTC opened at C$24.26 on Friday. The company’s 50-day simple moving average is C$22.37 and its 200-day simple moving average is C$19.58. Softchoice has a 1 year low of C$15.15 and a 1 year high of C$24.45. The stock has a market capitalization of C$1.46 billion, a PE ratio of 26.96 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.