Berenberg Lifts Price Target, Forecasts for Softcat on GDT Acquisition

06:14 AM EDT, 09/21/2026 (MT Newswires) -- Berenberg raised its price target and earnings projections for Softcat (SCT.L), saying the planned acquisition of US-based multi-vendor IT services provider GDT offers the London-listed company access to the US market. "Softcat will benefit from stronger global fulfilment capabilities, deeper infrastructure and networking competencies, access to the world's largest IT market and enhanced vendor relationships. Softcat will also benefit from GDT's service delivery and business operations team of c230 people in India, providing access to a new talent market and enhancing its 24/7 customer service. GDT will benefit from Softcat's vendor relationships and the opportunity to upsell a broader IT solutions offering, as well as stronger fulfilment capabilities. The acquisition will expand cross-selling capabilities and enhance the services proposition for both firms," the research firm said Monday. Berenberg boosted its fiscal 2026 through 2028 gross profit assumptions by 3%, 27% and 29%, respectively, while lifting its underlying profit estimates by 3%, 19% and 22%. The research firm also lifted the buy-rated stock's price target to 24 pounds sterling from 19.50 pounds.