UPDATE: Nomura Securities Upgrades Informatica (INFA) to Buy Following Sell-Off

October 5, 2012 7:23 AM EDT
Get Alerts INFA Hot Sheet
Price: $48.73 --0%

Rating Summary:
    7 Buy, 20 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 4 | New: 47
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(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.


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