UPDATE: Oppenheimer Downgrades Informatica on European Weakness
Oppenheimer reduced its rating on Informatica (NASDAQ: INFA) from Outperform to Perform.
Oppenheimer noted, "Following Informatica's negative pre-announcement this morning, we are downgrading INFA shares to Perform from Outperform and removing our price target due to ongoing headwinds in Europe. Although the European macro- environment faces challenges, we believe a major portion of INFA's woes are company-specific."
Informatica closed at $22.63 on Wednesday.
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