Softchoice (TSE:SFTC) Cut to “Sector Perform” at Scotiabank

Scotiabank lowered shares of Softchoice (TSE:SFTC) from an outperform rating to a sector perform rating in a report released on Friday,BayStreet.CA reports. The brokerage currently has C$25.50 price target on the stock, up from their prior price target of C$24.00.

Several other brokerages have also weighed in on SFTC. National Bankshares lowered shares of Softchoice from an “outperform” rating to a “tender” rating and lifted their target price for the company from C$23.00 to C$24.50 in a research report on Thursday. Cormark lowered Softchoice from a “buy” rating to a “tender” rating and lowered their price objective for the company from C$25.50 to C$24.50 in a research note on Thursday. CIBC downgraded Softchoice from a “neutral” rating to a “tender” rating and raised their target price for the stock from C$23.00 to C$24.50 in a research report on Thursday. Finally, ATB Capital cut 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 research report on Thursday. Two investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Softchoice presently has a consensus rating of “Hold” and an average price target of C$23.92.

Softchoice Price Performance

Softchoice has a 52-week low of C$15.15 and a 52-week 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 company’s 50 day moving average is C$22.37 and its 200-day 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.