Oppenheimer Has Outperform Rating On Teradata (TDC)

Oppenheimer & Co. has an Outperform rating and a $47 price target on Teradata Corp. TDC. In a note sent to investors Oppenheimer writes, "Following a positive mgmt meeting, we would remain buyers of the stock as we believe business momentum remains robust and TDC is well positioned to deliver a strong 4Q10. Despite competition and a challenging macro environment, we believe growing customer demand for EDW solutions, an augmented/broader product portfolio and an expanding sales force should help support double-digit product revenue growth for the foreseeable future. While margin expansion will likely be modest in the near term as the company invests in growth, we believe it is the right decision and positions the company well for solid long-term revenue growth. Given numerous secular and company-specific growth drivers, an attractive valuation and TDC's unique spot in the market, it remains a top pick." Shares of TDC gained 30 cents yesterday to close at $41.85.