Softcat (SCT) Raised to “Buy” at Berenberg Bank
Softcat (LON:SCT) was upgraded by Berenberg Bank to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a GBX 650 ($8.98) price objective on the stock, up from their previous price objective of GBX 530 ($7.32). Berenberg Bank’s target price indicates a potential upside of 15.45% from the company’s current price.
Separately, Jefferies Group raised Softcat to a “buy” rating and boosted their target price for the company from GBX 345 ($4.77) to GBX 565 ($7.81) in a research report on Monday, October 23rd.
Softcat (LON SCT) opened at GBX 563 ($7.78) on Monday. Softcat has a 12-month low of GBX 315 ($4.35) and a 12-month high of GBX 722.93 ($9.99). The firm has a market capitalization of $1,110.00 and a PE ratio of 2,815.00.
Softcat Plc is an information technology (IT) reseller and IT infrastructure solutions provider to the corporate and public sector markets. The Company provides organizations with workplace, datacenter and networking, and security solutions combined with all the services required to design, implement, support and manage them, on premise or in the cloud.
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