RBC Capital Cuts Softchoice Price Target By 15%


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  • RBC Capital analyst Paul Treiber lowered the price target for Softchoice Corp (TSX:SFTC) (OTC:SFTFC) to C$23 from C$27 while maintaining the Sector Perform rating on the shares, given reduced peer valuations.
  • The analyst states that Softchoice reported Q1 below consensus/RBC, as certain onetime headwinds weighed on profitability and growth.
  • Positively, Software & Cloud revenue was in line with estimates, and Q1 billings were healthy (+11% Y/Y), which provides visibility to the achievability of FY22 guidance (>11.5% Y/Y), he added.
  • Price Action: SFTC shares traded higher by 6.68% at C$19.65 on TSX on the last check Friday.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: Analyst ColorNewsPrice TargetReiterationAnalyst RatingsBriefsCanada