UPDATE: Credit Suisse Initiates Informatica Corporation at a Neutral Rating

Credit Suisse initiated coverage on Informatica Corporation INFA at a Neutral rating and a $31 price target. Credit Suisse commented, “Initiated Coverage of Informatica Corporation with a Neutral Rating and $31 Target Price on July 19: Informatica is a leading provider of data integration solutions. Following a disappointing Q2 negative preannouncement, and as INFA approaches $1B in revenue, earnings growth is decelerating rapidly, which we believe warrants a lower multiple on the company's earnings. Also, new management in the economically shaky but extremely important EMEA region (where INFA generates 20%+ of its total revenue), coupled with minor uncertainty that customers of the company's core ETL functionality could begin to substitute the open-source Hadoop platform, injects more risk into the story.” Informatica Corporation closed at $29.11 on Friday.