Softchoice (TSE:SFTC) Downgraded to “Tender” Rating by Cormark

Softchoice (TSE:SFTC) was downgraded by equities researchers at Cormark from a “buy” rating to a “tender” rating in a report released on Thursday,BayStreet.CA reports. They currently have a C$24.50 price target on the stock, down from their previous price target of C$25.50. Cormark’s price target would suggest a potential upside of 1.16% from the company’s previous close.

Several other equities analysts have also recently issued reports on SFTC. National Bankshares cut Softchoice from an “outperform” rating to a “tender” rating and raised their price objective for the stock from C$23.00 to C$24.50 in a research note on Thursday. CIBC downgraded shares of Softchoice from a “neutral” rating to a “tender” rating and boosted their price objective for the company from C$23.00 to C$24.50 in a research report on Thursday. Finally, Scotiabank upgraded Softchoice from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$20.00 to C$24.00 in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$23.67.

Softchoice Stock Performance

Shares of TSE:SFTC traded down C$0.02 during trading on Thursday, hitting C$24.22. The company’s stock had a trading volume of 291,969 shares, compared to its average volume of 25,387. Softchoice has a fifty-two week low of C$15.06 and a fifty-two week high of C$24.45. The stock’s 50-day moving average price is C$22.25 and its two-hundred day moving average price is C$19.49. The company has a market capitalization of C$1.46 billion, a PE ratio of 26.91 and a beta of -0.14.

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.