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Fly News Breaks for November 8, 2019
TDC
Nov 8, 2019 | 05:00 EDT
Stifel analyst Brad Reback downgraded Teradata to Hold from Buy with a price target of $25, down from $60. The analyst cites a "number of disappointing developments" for the downgrade, including the firing of Mr. Ratzesberger, management's reduced fiscal year recurring-revenue guidance, profitability improvements taking longer than expected, and the company's model transition. While the shares are not expensive, it will take multiple quarters for Teradata to work through its issues, Reback tells investors in a research note.
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