ATB Capital Upgrades Softchoice (TSE:SFTC) to Outperform

Softchoice (TSE:SFTC) was upgraded by equities researchers at ATB Capital from a “sector perform” rating to an “outperform” rating in a report released on Monday, BayStreet.CA reports. The firm presently has a C$23.00 target price on the stock, up from their prior target price of C$18.50. ATB Capital’s price target would suggest a potential upside of 20.73% from the company’s current price.

Other equities analysts also recently issued reports about the company. Cormark lowered their price objective on Softchoice from C$26.00 to C$21.50 in a research report on Thursday, May 9th. National Bankshares lowered their price objective on Softchoice from C$25.00 to C$24.00 in a research report on Thursday, May 9th. Finally, Royal Bank of Canada lifted their price objective on Softchoice from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Monday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$22.00.

Softchoice Trading Up 2.4 %

Shares of TSE:SFTC traded up C$0.45 on Monday, hitting C$19.05. 13,913 shares of the company were exchanged, compared to its average volume of 31,792. Softchoice has a 1-year low of C$14.40 and a 1-year high of C$22.46. The firm has a market capitalization of C$1.15 billion, a P/E ratio of 20.71 and a beta of -0.16. The stock’s 50 day moving average price is C$17.56 and its 200 day moving average price is C$17.63.

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.