Teradata (TDC) PT Raised to $40 at Deutsche Bank

Deutsche Bank analyst Karl Keirstead raised the price target on Teradata (NYSE: TDC) to $40.00 (from $35.00) while maintaining a Hold rating.

The analyst commented, "Analyst Day In San Diego. We attended Teradata’s analyst day, where the company focused on its new Vantage analytics platform and the CFO presented 2021 targets and other disclosures that required meaningful changes to our model. Bottom line, we’re cutting about $200m out of our 2020 revs estimate (to $2.03b) as Teradata de-emphasizes license and consulting revs and are raising our OM, EPS and FCF estimates as Teradata shifts to higher-margin revs and cuts costs. We reaffirm our HOLD rating."

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