Softchoice (TSE:SFTC) Given New C$24.00 Price Target at Royal Bank of Canada

Softchoice (TSE:SFTC) had its price objective hoisted by research analysts at Royal Bank of Canada from C$23.00 to C$24.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 1.56% from the company’s current price.

A number of other equities analysts have also issued reports on the company. ATB Capital lowered Softchoice from an “outperform” rating to a “tender” rating and decreased their price target for the company from C$26.00 to C$24.50 in a research note on Thursday, January 2nd. CIBC lowered Softchoice from a “neutral” rating to a “tender” rating and raised their target price for the company from C$23.00 to C$24.50 in a report on Thursday, January 2nd. Scotiabank lowered Softchoice from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$24.00 to C$25.50 in a research note on Friday, January 3rd. National Bankshares downgraded Softchoice from an “outperform” rating to a “tender” rating and lifted their price objective for the company from C$23.00 to C$24.50 in a report on Thursday, January 2nd. Finally, Cormark downgraded Softchoice from a “buy” rating to a “tender” rating and decreased their price objective for the company from C$25.50 to C$24.50 in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$24.58.

Softchoice Price Performance

Softchoice stock remained flat at C$24.38 during trading on Tuesday. The company had a trading volume of 80,700 shares, compared to its average volume of 130,456. The stock has a market capitalization of C$1.47 billion, a PE ratio of 27.09 and a beta of -0.14. The stock has a fifty day moving average price of C$23.65 and a two-hundred day moving average price of C$20.59. Softchoice has a 52-week low of C$16.09 and a 52-week high of C$24.45.

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.