Softchoice (TSE:SFTC) Cut to “Tender” at CIBC

CIBC cut shares of Softchoice (TSE:SFTC) from a neutral rating to a tender rating in a research note published on Thursday,BayStreet.CA reports. They currently have C$24.50 price target on the stock, up from their prior price target of C$23.00.

SFTC has been the topic of several other reports. Cormark increased their target price on shares of Softchoice from C$24.00 to C$25.50 in a report on Monday, November 11th. National Bankshares downgraded shares of 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 research note on Thursday. Finally, Scotiabank raised shares of Softchoice from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$20.00 to C$24.00 in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$23.92.

Softchoice Price Performance

The company has a market cap of C$1.46 billion, a P/E ratio of 26.96 and a beta of -0.14. Softchoice has a 12-month low of C$15.15 and a 12-month high of C$24.45. The stock’s 50-day moving average price is C$22.37 and its two-hundred day moving average price is C$19.58.

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.