Softcat price target lowered to 1,210 GBp from 1,500 GBp at Jefferies

Jefferies analyst Charles Brennan lowered the firm’s price target on Softcat (SFTCY) to 1,210 GBp from 1,500 GBp and keeps a Hold rating on the shares. The company delivered better than expected results, with outperformance balanced across underlying growth and some benefit from pulled forward orders, the analyst tells investors in a research note. The firm adds however that its price target cut is due to share price weakness across the sector.