Scotiabank Downgrades Softchoice (TSE:SFTC) to Sector Perform

Softchoice (TSE:SFTC - Get Free Report) was downgraded by equities researchers at Scotiabank from an "outperform" rating to a "sector perform" rating in a research note issued 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. Scotiabank's price target points to a potential upside of 5.11% from the company's previous close.

Several other brokerages have also recently issued reports on SFTC. National Bankshares cut 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 research report on Thursday. CIBC downgraded Softchoice from a "neutral" rating to a "tender" rating and raised their price objective for the company from C$23.00 to C$24.50 in a research report on Thursday. Cormark downgraded 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 report on Thursday. Finally, ATB Capital cut shares of Softchoice from an "outperform" rating to a "tender" rating and lowered their price target for the company from C$26.00 to C$24.50 in a report on Thursday. Two investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Softchoice has an average rating of "Hold" and a consensus target price of C$23.92.

Softchoice Trading Up 0.5 %

Shares of SFTC traded up C$0.11 during mid-day trading on Friday, hitting C$24.26. The company's stock had a trading volume of 68,116 shares, compared to its average volume of 218,713. 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 company's 50-day moving average is C$22.37 and its 200-day moving average is C$19.58. Softchoice has a 52-week low of C$15.15 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.