Cowen Remains Sidelined on Teradata Corp. (TDC) After Meeting with Management
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Cowen reiterated a Market Perform rating and $32.00 price target on Teradata (NYSE: TDC) after meeting with management and investors on the road.
Analyst Derrick Wood commented, "We hosted Gregg Swearingen, IR, on the road this week w/ investors. We are encouraged about the increased rate of change w/in TDC (go-to-market, product delivery, pricing, etc.). We think this is necessary in order for TDC to find new areas of growth. We however expect this to create incremental pressure on the rev/EPS model in the medium-term, which we think will keep the stock range-bound."
Shares of Teradata closed at $31.11 yesterday.
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