UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on Informatica Corporation
In a report published Friday, Deutsche Bank reiterated its Hold rating on Informatica Corporation (NASDAQ: INFA), but lowered its price target from $35.00 to $31.00.
Deutsche Bank noted, “We believe the company will now be in the penalty box, unless they show a return to growth, and improving sales-force productivity. We believe Informatica, will need to continue to invest around growth products like cloud, MDM to gain longer-term mind-share, which could also limit near-term margin upside. Our model indicates a return of license growth in 2Q13. We are adjusting our estimates for Revenues/EPS in 2012 and 2013 from $822m/$1.44 and $900m/$1.60 to $805m/$1.35 and $875m/$1.45 respectively.”
Informatica Corporation closed on Thursday at $26.04.
Latest Ratings for INFA
|Sep 2014||Pacific Crest||Maintains||Market Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.