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

Softchoice (TSE:SFTC) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a note issued to investors 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.

A number of other analysts have also commented on the company. ATB Capital lowered Softchoice from an “outperform” rating to a “tender” rating and decreased their target price for the company from C$26.00 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 increased their target price for the company from C$23.00 to C$24.50 in a report on Thursday. CIBC lowered Softchoice from a “neutral” rating to a “tender” rating and lifted their price target for the stock from C$23.00 to C$24.50 in a report on Thursday. Finally, Cormark lowered shares of 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. Two analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$23.92.

Softchoice Stock Performance

The business has a fifty day simple moving average of C$22.37 and a 200 day simple moving average of C$19.58. The company has a market capitalization of C$1.46 billion, a P/E ratio of 26.96 and a beta of -0.14. Softchoice has a 1-year low of C$15.15 and a 1-year high of C$24.45.

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.