Teradata (TDC) PT Raised to $32 at Cowen on 'Solid' Q2

Cowen analyst J. Derrick Wood reiterated an Outperform rating and raised his price target on Teradata (NYSE: TDC) to $32.00 (from $30.00) following a "solid" quarter.

Wood commented, "TDC reported modest rev upside and impressive op margins as cost cuts took greater hold. While mgmt expects capex conditions to remain challenging in the U.S., 3Q guide calls for relatively stable revenue. With EPS revisions not trending downward and even some cushion for FY16 upside, at an ~11x P/E we think the NT bear case is waning. With 15% of the float short, stock may slowly grind higher."

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 $28.39 yesterday.

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