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UPDATE: Bank of America Downgrades Informatica to Underperform Following Negative Pre-Announcement

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JMP Securities Downgrades Informatica To Market Perform

Bank of America reduced its rating on Informatica Corporation (NASDAQ: INFA) to Underperform and reduced its price objective from $55 to 32.

In the report, Bank of America noted, "Informatica pre-announced Q2 which missed guidance by a wide margin. License rev fell short of our est by 27%, total rev by 13%, and pf EPS by 24%. The stock was down by 29% after market. Although EU macro was one of the factors, we think the magnitude of the miss combined with lower guidance for 2H:FY12 indicate more of company specific sales execution problems, potential structural issues in the data integration market, and increasing competitive pressure. We are downgrading INFA to Underperform with a new PO of $32 (from $55), based on 20x CY13e EPS, which implies 15x EV/FCF, with both multiples in line with mid cap comps."

Informatica Corporation closed at $43.37 on Thursday, and in pre-market trading was trading down over 30 percent at $30.10 at the time of posting.

Latest Ratings for INFA

DateFirmActionFromTo
Apr 2015JMP SecuritiesDowngradesMarket OutperformMarket Perform
Apr 2015Stifel NicolausDowngradesBuyHold
Apr 2015CLSADowngradesBuyUnderperform

View More Analyst Ratings for INFA
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Price Target Pre-Market Outlook Analyst Ratings

 

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