CIBC Downgrades Softchoice (TSE:SFTC) to Tender

Softchoice (TSE:SFTC) was downgraded by CIBC from a “neutral” rating to a “tender” rating in a research note issued on Thursday,BayStreet.CA reports. They presently have a C$24.50 price objective on the stock, up from their previous price objective of C$23.00. CIBC’s price objective indicates a potential upside of 0.99% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Cormark lifted their target price on Softchoice from C$24.00 to C$25.50 in a research report on Monday, November 11th. Scotiabank raised Softchoice from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$20.00 to C$24.00 in a research report on Tuesday, November 12th. Finally, National Bankshares downgraded Softchoice from an “outperform” rating to a “tender” rating and increased their price objective for the company from C$23.00 to C$24.50 in a report on Thursday. Two research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Softchoice has a consensus rating of “Hold” and an average price target of C$23.92.

Softchoice Trading Up 0.5 %

Shares of TSE:SFTC opened at C$24.26 on Thursday. The firm has a 50 day simple moving average of C$22.37 and a 200-day simple moving average of C$19.58. Softchoice has a twelve month low of C$15.15 and a twelve month high of C$24.45. The company has a market capitalization of C$1.46 billion, a PE ratio of 26.96 and a beta of -0.14.

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.