Berenberg raised target for Softcat stock to GBp 2,400.00

Published on 10/13/2026 at 02:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Softcat stock has a GBp 2,400.00 target from Berenberg dated September 21, 2026. Annual results follow October 14, 2026 after high-teens profit guidance.

Key points in brief

Berenberg raised its Softcat price target from GBp 1,950.00 to GBp 2,400.00 on September 21, 2026.
Softcat agreed to acquire GDT for USD 1.05 billion and lifted fiscal 2026 underlying operating profit guidance to high-teens growth.
Softcat raised GBP 354 million through an equity issue to help fund the GDT transaction.
Softcat's fiscal 2026 preliminary results are scheduled for October 14, 2026.

Aquarellmalerei eines modernen Bürogebäudes in einer englischen Landschaft — Softcat plc (GB00BYZ2B577) hat seinen Hauptsitz in einer englischen Kleinstadt, künstlerisch dargestellt als sanftes Aquarellgemälde, Illustration mit AI erstellt.

Softcat (GB00BYZDVK82) received a higher Berenberg target of GBp 2,400.00 from GBp 1,950.00 on September 21, 2026, while the bank kept a Buy rating, according to MarketBeat. The target revision followed Softcat's planned USD 1.05 billion purchase of US IT provider GDT and gives the stock a valuation marker ahead of annual results.

Three milestones shape the setup

On September 17, 2026, Softcat announced the GDT acquisition at an enterprise value of USD 1.05 billion and raised its fiscal 2026 underlying operating profit outlook from mid-teens to high-teens growth, according to Investegate.

On September 18, 2026, the company said it had raised GBP 354 million through an equity issue, with the proceeds intended to part-fund GDT, according to Investegate.

The next dated milestone is October 14, 2026, when Softcat is scheduled to publish preliminary results for the fiscal year ended July 31, 2026. The September trading update also pointed to fiscal 2027 underlying operating profit growth in the high single digits, excluding GDT.

What does the deal mean for profit?

Softcat expects GDT to add high single-digit to low double-digit underlying earnings per share accretion in the first full fiscal year, although the estimate depends on regulatory clearance and integration. The announcement also put expected net debt leverage at 1.3 times at closing, with leverage forecast below 1.0 times by July 2028.

Softcat describes itself as an IT solutions and services provider covering software licensing, workplace technology, networking, security, cloud and data center services, according to its Softcat investor centre. That operating breadth is central to the acquisition case because GDT adds US data center, networking and AI infrastructure capabilities.

Softcat stock before annual results

Softcat was last at EUR 22.70 at Lang & Schwarz on October 12, 2026 at 11:00 p.m. CEST. On the London Stock Exchange, the stock was last at GBp 1,904.00 on October 12, 2026 at 4:35 p.m. BST, against a 52-week range of GBp 1,083.00 to GBp 2,134.00. The further course of trading is shown by the continuously updated real-time quote of Softcat stock.