Teradata (TDC) PT Cut to $32 at Cowen on Q2 Miss

Cowen analyst Jesse Hulsing reiterated a Market Perform rating on Teradata (NYSE: TDC) and cut his price target to $32.00 (from $44.00) following light Q2 results.

Hulsing commented, "Q2 miss a continuation of recent trends (softening demand environment due to emergence of lower-cost competitive platforms). Stock getting cheaper (1.5x EV/sales; 14x 2015 EPS), but falling estimates keep it from getting so cheap that we'd take a flyer. Mgmt confident in 2H pipeline, but confidence in mgmt's forecast fairly low due to recent results. PT to $32"

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 $30.43 yesterday.

You May Also Be Interested In

• McCormick & Company (MKC) PT Lowered to $60 at TD Cowen
• Deutsche Bank Upgrades Softbank Group Corp. (9984:JP) (SFTBY) to Buy
• Acuity Brands (AYI) PT Raised to $465 at Oppenheimer