Softchoice (TSE:SFTC) Stock Rating Lowered by Scotiabank

Softchoice (TSE:SFTC) was downgraded by analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued on Friday,BayStreet.CA reports. They presently have a C$25.50 target price on the stock, up from their previous target price of C$24.00.

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

Softchoice Stock Performance

Softchoice has a 1 year low of C$15.15 and a 1 year high of C$24.45. The stock has a 50 day simple moving average of C$22.37 and a two-hundred day simple moving average of C$19.58. The company has a market capitalization of C$1.46 billion, a price-to-earnings 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.