Informatica price target lowered to $33 from $37 at Scotiabank

Scotiabank analyst Patrick Colville lowered the firm’s price target on Informatica to $33 from $37 and keeps a Sector Perform rating on the shares. While the company is executing its transition to a SaaS software vendor well, transitions can be complex and come with risk, the analyst tells investors. Scotiabank is having a difficult time envisioning a scenario that would drive significant upside to top-line estimates.