UPDATE: Nomura Securities Upgrades Informatica (INFA) to Buy Following Sell-Off
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Price: $34.45 -0.81%
Rating Summary:
10 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
10 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade INFA Now!
(Updated - October 5, 2012 8:26 AM EDT)
Nomura Securities upgraded Informatica (NASDAQ: INFA) from Neutral to Buy but cut its price target from $38 to $33, following yesterday's Q3 warning and subsequent 23 percent sell-off. The new price target suggests 27% upside from current levels.
"This will likely take several quarters to get through, although we like the current risk / reward in the stock," analyst Rick Sherlund said. "New sales management is in transition and the recovery in license revenues will likely take several quarters."
The firm's revenue / EPS estimates for 2012 and 2013 are now $798 / $1.28 and $865 / $1.40 versus estimates prior to the pre-announcement of $827 / $1.45 and $930 / $1.63, respectively.
For an analyst ratings summary and ratings history on Informatica click here. For more ratings news on Informatica click here.
Shares of Informatica closed at $26.04 yesterday, with a 52 week range of $23.83-$54.49.
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Nomura Securities upgraded Informatica (NASDAQ: INFA) from Neutral to Buy but cut its price target from $38 to $33, following yesterday's Q3 warning and subsequent 23 percent sell-off. The new price target suggests 27% upside from current levels.
"This will likely take several quarters to get through, although we like the current risk / reward in the stock," analyst Rick Sherlund said. "New sales management is in transition and the recovery in license revenues will likely take several quarters."
The firm's revenue / EPS estimates for 2012 and 2013 are now $798 / $1.28 and $865 / $1.40 versus estimates prior to the pre-announcement of $827 / $1.45 and $930 / $1.63, respectively.
For an analyst ratings summary and ratings history on Informatica click here. For more ratings news on Informatica click here.
Shares of Informatica closed at $26.04 yesterday, with a 52 week range of $23.83-$54.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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