UPDATE: Oppenheimer Downgrades Informatica on European Weakness

Oppenheimer reduced its rating on Informatica

from Outperform to Perform. Oppenheimer noted, "Following Informatica's negative pre-announcement this morning, we are downgrading INFA shares to Perform from Outperform and removing our price target due to ongoing headwinds in Europe. Although the European macro- environment faces challenges, we believe a major portion of INFA's woes are company-specific." Informatica closed at $22.63 on Wednesday.