Softcat stock weighs GDT deal after Berenberg lifts target

Published on 09/28/2026 at 09:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg lifted its target to GBp 2,400 from GBp 1,950 on September 21, 2026. Softcat raised FY2026 profit guidance and scheduled results for October 14, 2026.

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Softcat (ISIN GB00BYZ2B577) was trading at GBp 1,798.00 on the London Stock Exchange at 8:52 a.m. BST on September 28, 2026, up 0.50 percent from the prior close, with a GBP 3.5 billion market capitalization. The company is now balancing a major US acquisition against a higher earnings outlook.

GDT deal expands US reach

According to Investegate on September 17, 2026, Softcat agreed to acquire GDT Topco for an enterprise value of USD 1.05 billion. GDT adds US capabilities in data centers, networking, AI infrastructure and cybersecurity, while the transaction is expected to close by the end of the first quarter of calendar year 2027.

The deal also changes the financing profile. Softcat said net debt leverage could reach 1.30 times at closing, compared with a net cash position of 0.70 times at the end of FY2026, while the company targets leverage below 1.00 times by July 2028, according to Investegate.

Profit outlook moves higher

Softcat now expects high-teens growth in FY2026 underlying operating profit, up from its previous mid-teens expectation, with gross profit growth moderately above that level. The company also expects FY2026 cash conversion toward the top of its 85%-95% guided range, according to Investegate.

The latest reported interim figures provide the operating baseline. For the six months to January 31, 2026, gross invoiced income rose 33.30 percent to GBP 2.01 billion, gross profit increased 22.60 percent to GBP 269.90 million and underlying operating profit climbed 27.30 percent to GBP 93.80 million, according to UK Investor Magazine.

Berenberg target reaches GBp 2,400

MarketBeat reported on September 21, 2026, that Berenberg raised its Softcat target to GBp 2,400 from GBp 1,950 and maintained a buy rating. Against the GBp 1,798.00 price on September 28, 2026, that target lies 33.59 percent above the stock.

The broader analyst picture is less uniform: MarketBeat reported a consensus hold rating and an average target of GBp 1,993.75. Softcat's next scheduled checkpoint is its FY2026 preliminary results on October 14, 2026, a date stated in the company's September 17 announcement.

Softcat stock trades below yearly high

Softcat was trading at GBp 1,798.00 on the London Stock Exchange on September 28, 2026, with a session range of GBp 1,778.00 to GBp 1,798.00 and a 52-week range of GBp 1,083.00 to GBp 2,134.00. The acquisition, guidance upgrade and analyst target leave execution and leverage as the central measures for the next results.