UBS Downgrades Teradata (TDC) to Sell
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UBS downgraded Teradata (NYSE: TDC) from Neutral to Sell with a price target of $27.00 (from $29.00), citing YTD outperformace and risk int o 11/17 analyst day.
Analyst Brent Thill commented, "TDC's upcoming analyst day (the first of its kind in as many years) will offer visibility on the pace and scope of TDC's impending transition to a more software-centric, Cloudfirst business model. This will provide a much-needed reset to financial model expectations, but we see downside risk to estimates as we believe current consensus forecasts underestimate the duration and magnitude of the impact. As such, UBSe is now below Street. This combined with the YTD outperformance (+17% vs. 6% NASDAQ) TDC has witnessed, we downgrade shares from Neutral to Sell."
Shares of Teradata closed at $31.00 yesterday.
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