Softchoice Downgraded by Scotiabank

Softchoice (TSE:SFTC – Get Free Report) received a downgrade from Scotiabank, shifting its rating from "outperform" to "sector perform" in a note that was shared with investors on Friday. Currently, the bank has set a target price of C$25.50 for the stock, an increase from its previous target of C$24.00.

Several analysts have also weighed in on Softchoice. ATB Capital recently downgraded the company from an "outperform" rating to a "tender" rating, reducing their target price from C$26.00 to C$24.50. National Bankshares also lowered their rating to "tender" while raising the target price for Softchoice from C$23.00 to C$24.50. Similarly, CIBC downgraded the stock from a "neutral" rating to a "tender" rating, though they raised their price target from C$23.00 to C$24.50. Cormark made a similar move, changing their rating from "buy" to "tender" and adjusting the target price down from C$25.50 to C$24.50. Presently, two analysts maintain a hold rating on the stock. MarketBeat data indicates that Softchoice has an average rating of “Hold” and a consensus target price of C$23.92.

Softchoice Stock Performance

Softchoice has a fifty-day simple moving average of C$22.37 and a 200-day simple moving average of C$19.58. The company's market capitalization stands at C$1.46 billion, with a P/E ratio of 26.96 and a beta of -0.14. Over the past year, shares have seen a low of C$15.15 and a high of C$24.45.

About Softchoice

Softchoice Corporation specializes in the design, procurement, implementation, and management of information technology (IT) solutions across Canada and the United States. Their services include cloud and data center solutions, collaboration and digital workplace solutions, IT asset management services, and network security support.

Softchoice, Downgrade, Ratings