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

Cormark downgraded shares of Softchoice (TSE:SFTC) from a buy rating to a tender rating in a report released on Thursday,BayStreet.CA reports. The firm currently has C$24.50 target price on the stock, down from their previous target price of C$25.50.

Several other brokerages have also weighed in on SFTC. CIBC lowered shares of Softchoice from a “neutral” rating to a “tender” rating and upped their target price for the stock from C$23.00 to C$24.50 in a research report on Thursday. Scotiabank upgraded Softchoice from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$20.00 to C$24.00 in a report on Tuesday, November 12th. Finally, National Bankshares cut Softchoice from an “outperform” rating to a “tender” rating and lifted their price objective for the stock from C$23.00 to C$24.50 in a report on Thursday. One analyst has rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$23.67.

Softchoice Stock Performance

Shares of TSE SFTC opened at C$24.15 on Thursday. The company’s fifty day moving average is C$22.32 and its two-hundred day moving average is C$19.53. The firm has a market capitalization of C$1.46 billion, a P/E ratio of 26.83 and a beta of -0.14. Softchoice has a one year low of C$15.06 and a one year high of C$24.45.

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.