Scotiabank Downgrades Softchoice (TSE:SFTC) to Sector Perform

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

Several other brokerages also recently commented on SFTC. ATB Capital downgraded shares of Softchoice from an “outperform” rating to a “tender” rating and dropped their target price for the stock from C$26.00 to C$24.50 in a report on Thursday. CIBC lowered shares of Softchoice from a “neutral” rating to a “tender” rating and raised their price objective for the stock from C$23.00 to C$24.50 in a report on Thursday. Cormark lowered shares of Softchoice from a “buy” rating to a “tender” rating and reduced their target price for the stock from C$25.50 to C$24.50 in a research note on Thursday. Finally, National Bankshares cut Softchoice from an “outperform” rating to a “tender” rating and increased their target price for the stock from C$23.00 to C$24.50 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus 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 firm has a market capitalization of C$1.46 billion, a price-to-earnings ratio of 26.96 and a beta of -0.14. The stock’s 50 day simple moving average is C$22.37 and its 200-day simple moving average is C$19.58.

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.