Teradata price target raised to $37 from $34 at Evercore ISI

Evercore ISI raised the firm’s price target on Teradata to $37 from $34 and keeps an Outperform rating on the shares. Coming away from Teradata’s Possible 2024 conference, the analyst remains “bullish” on the company’s long-term opportunity, citing the strong pace of product innovation and platform’s parity with its cloud native competitors. In the near-term, “perception is still playing catch-up to reality,” even though Teradata’s platform carries meaningful differentiators, including hybrid capabilities and superior pricing economics for its customers, the analyst tells investors.