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

Softchoice (TSE:SFTC) was downgraded by analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Friday,BayStreet.CA reports. They currently have a C$25.50 price target on the stock, up from their prior price target of C$24.00. Scotiabank’s price target suggests a potential upside of 5.24% from the company’s previous close.

Several other brokerages also recently commented on SFTC. ATB Capital downgraded Softchoice from an “outperform” rating to a “tender” rating and lowered their price objective for the stock from C$26.00 to C$24.50 in a research note on Thursday. CIBC downgraded 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. National Bankshares lowered shares of Softchoice from an “outperform” rating to a “tender” rating and increased their price target for the company from C$23.00 to C$24.50 in a research 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 research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$23.92.

Softchoice Stock Performance

Shares of Softchoice stock traded up C$0.08 during trading hours on Friday, reaching C$24.23. The company’s stock had a trading volume of 27,783 shares, compared to its average volume of 198,046. The stock’s fifty day simple moving average is C$22.32 and its two-hundred day simple moving average is C$19.53. The company has a market capitalization of C$1.46 billion, a P/E ratio of 26.92 and a beta of -0.14. Softchoice has a one year low of C$15.15 and a one 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.