UPDATE: Bank of America Raising Price Target On Teradata Corporation

Bank of America Merrill Lynch is raising its estimates and price target on shares of Teradata Corporation

. In a note to clients, Bank of America Merrill Lynch writes, "Our analysis (Figure 1) suggests that consensus revenue growth is too conservative. We are raising our 2012 revenue and EPS estimates to reflect incremental growth from new sales investments, broader appliance portfolio and growth of the base business. In our opinion, Teradata remains well positioned to capture a disproportionate share of IT spending as organizations look to leverage a solid analytics platform as a competitive advantage. Reiterate Buy." Shares of TDC gained 70 cents yesterday to close at $62.33, a gain of 1.14%.