UPDATE: Sterne Agee Downgrades Teradata Corporation on Negative Outlook for Remainder of Year

In a report published Tuesday, Sterne Agee analyst Alex Kurtz downgraded the rating on

from Buy to Neutral, and removed the $70.00 price target. In the report, Sterne Agee noted, “With few catalysts through the remainder of the year, along with a lower projected product growth rate into FY2014, we see limited opportunity for the stock to significantly recover in the near term as the growth multiple compresses. Our bullish stance on Teradata was partially predicated on the management's better visibility exiting the June quarter, which for now appears negatively impacted again.” Teradata Corporation closed on Monday at $52.58.