Softchoice (TSE:SFTC) Upgraded to “Outperform” at Scotiabank

Softchoice (TSE:SFTC) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a C$24.00 target price on the stock, up from their previous target price of C$20.00. Scotiabank’s price objective points to a potential upside of 13.48% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada raised their price target on Softchoice from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. ATB Capital upgraded shares of Softchoice from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$18.50 to C$23.00 in a research note on Monday, August 12th. Finally, Cormark raised their target price on Softchoice from C$24.00 to C$25.50 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$22.67.

Softchoice Price Performance

Shares of TSE:SFTC traded up C$0.15 on Tuesday, reaching C$21.15. 5,235 shares of the company traded hands, compared to its average volume of 27,094. The stock has a market capitalization of C$1.28 billion, a PE ratio of 23.50 and a beta of -0.14. The company’s 50 day moving average is C$19.87 and its 200-day moving average is C$18.53. Softchoice has a fifty-two week low of C$14.40 and a fifty-two week high of C$22.46.

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.