UPDATE: Sterne Agee Upgrades Teradata to Buy on Competitive Strength

Sterne Agee raised its rating on Teradata TDC from Neutral to Buy and announced a price target of $81 a share. Sterne Agee commented, "Our historical concerns for Teradata have been twofold - competitive changes with larger vendors acquiring technology and the macro impact on large EDW transactions. Yet, given 23% CC product growth in 2Q12 and 22% reported during 1H12, the company's business appears to be healthy across most metrics. Analytics remains a strategic buy for most Global enterprises and 2H12 guidance appears beatable in our view." TDC closed at $67.30 on Thursday.