Mizuho Securities Remains Sidelined on Teradata Corp. (TDC) Following 2Q
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Mizuho Securities reiterated a Neutral rating on Teradata (NYSE: TDC), and raised the price target to $28.00 (from $24.00), following the company's 2Q Earnings report. The company reported total revenues of $564mm vs. the consensus of $554mm. EPS of $0.71 was ahead of consensus of $0.60.
Analyst Abhey Lamba commented, "Teradata posted 2Q results that came in above expectations. Revenue came in ahead of expectations with upside coming from product revenue. By geo, international outperformed Americas which continued to decline Y/Y. Management reaffirmed its FY guidance and called for re-investment of cost savings as it begins to build out the infrastructure to support its upcoming cloudbased solutions launch. We think the turnaround is likely to take time to yield results and remain on the sidelines until we see signs of consistent execution. Maintain Neutral rating while adjusting PT to $28 from $24."
For an analyst ratings summary and ratings history on Teradata click here. For more ratings news on Teradata click here.
Shares of Teradata closed at $29.42 yesterday.
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