UPDATE: Jefferies & Company Lowers PT on Informatica to $30
Jefferies & Company has published a research report on Informatica Corporation (NASDAQ: INFA) and has lowered the price target from $36 to $30.
In the report, Jefferies wrote, "This morning INFA negatively pre-announced 3Q results citing sales execution and leadership issues in EMEA as the source of the miss. Sales execution has been a persistent issue this year but the degree of the 3Q license miss on an already lowered target could incite speculation of broader challenges. Further EMEA organization changes could be forthcoming which brings uncertainty and may extend the time frame for a recovery."
Jefferies maintained its Hold rating on Informatica, which is currently trading down 23.22 percent from Wednesday's $33.63 closing price.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Jefferies & Company