UPDATE: CLSA Lowers PT on Teradata Corporation Following 3Q Shortfall, Lowered Guidance

In a report published Tuesday, CLSA Americas analyst Ed Maguire reiterated a Buy rating on

, but lowered the price target from $77.00 to $63.00. In the report, CLSA Americas noted, “We're sticking with Teradata despite the preannounced 3Q shortfall and lower 2013 guidance, as strengthening performance in the Americas and Europe was offset by unusual weakness in Asia Pacific (APAC) and Middle East and Africa (MEA). It's not yet clear what drove deal slippage in APAC and MEA, but we're confident it's not Hadoop-related competitive threats. We're lowering forecasts and target from $77 to $63, maintaining our BUY rating as we expect further color on the 31 October conference call.” Teradata Corporation closed on Monday at $53.58.