Scotiabank Upgrades Softchoice (TSE:SFTC) to “Outperform”

Softchoice (TSE:SFTC) was upgraded by equities research 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 presently has a C$24.00 price target on the stock, up from their previous price target of C$20.00. Scotiabank’s target price would indicate a potential upside of 11.63% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada boosted their target price on shares of Softchoice from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Cormark upped their price target on shares of Softchoice from C$24.00 to C$25.50 in a research note on Monday. Finally, ATB Capital upgraded shares of Softchoice from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$18.50 to C$23.00 in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Softchoice presently has an average rating of “Moderate Buy” and an average price target of C$22.67.

Softchoice Stock Up 0.9 %

SFTC opened at C$21.50 on Tuesday. The stock has a market cap of C$1.30 billion, a price-to-earnings ratio of 23.89 and a beta of -0.14. Softchoice has a twelve month low of C$14.40 and a twelve month high of C$22.46. The company’s 50-day moving average price is C$19.90 and its two-hundred day moving average price is C$18.54.

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.