Bank of America Reiterates Buy on Teradata Corporation

Bank of America reiterated its Buy rating on Teradata Corporation TDC after a meeting with its senior management. In a research report published today, Bank of America states, "We hosted CEO Mike Koehler and CFO Steve Scheppmann at our technology conference. We walked away with the conviction that Teradata remains a solid leader in an underpenetrated market where IT dollars will likely migrate to improve decision making for customers (delivering a competitive advantage). In our opinion, the company is poised to deliver accelerating revenue growth, improving margins, and solid free cash flow and we reiterate our Buy rating." At the moment, Bank of America has a price target of $63 on the company's stock. On Wednesday, Teradata lost 1.99% of its value to close the day at $54.68.