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In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on Teradata Corporation
TDC, but lowered its price target from $79.00 to $70.00.
BMO Capital Markets noted, “We think guidance raises the question of TDC's sustainable growth rate. Moreover, why is TDC seeing macro impacts this late in the economic cycle when other companies, such as EMC and NTAP, had demand pressure earlier? Our initial conclusion is customers did have some capacity, meaning the 20% y/y growth of quarters past was not sustainable, and/or budgets are limiting incremental spending. We do not think Hadoop has affected TDC's demand, though we wonder if ORCL has had some marginal impact.”
Teradata Corporation closed on Thursday at $61.82.
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