Softchoice (TSE:SFTC) Rating Lowered to "Tender" at CIBC

CIBC cut shares of Softchoice (TSE:SFTC - Free Report) from a neutral rating to a tender rating in a report released on Thursday morning,BayStreet.CA reports. The firm currently has C$24.50 price objective on the stock, up from their previous price objective of C$23.00.

Several other brokerages have also commented on SFTC. Scotiabank raised shares of Softchoice from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from C$20.00 to C$24.00 in a report on Tuesday, November 12th. Cormark boosted their target price on shares of Softchoice from C$24.00 to C$25.50 in a research note on Monday, November 11th. Finally, National Bankshares downgraded shares of Softchoice from an "outperform" rating to a "tender" rating and upped their price target for the stock from C$23.00 to C$24.50 in a research report on Thursday. One research analyst has rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$23.67.

Softchoice Stock Performance

Shares of SFTC traded down C$0.09 during trading hours on Thursday, hitting C$24.15. The stock had a trading volume of 369,310 shares, compared to its average volume of 25,387. The firm has a 50-day moving average price of C$22.32 and a 200 day moving average price of C$19.53. Softchoice has a fifty-two week low of C$15.06 and a fifty-two week high of C$24.45. The firm has a market capitalization of C$1.46 billion, a price-to-earnings ratio of 26.83 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.