Teradata upgraded to Buy from Neutral at Guggenheim

Guggenheim analyst Howard Ma upgraded Teradata to Buy from Neutral with a $62 price target. Channel checks indicate Teradata may be at a positive inflection point in terms of retaining customers and driving revenue expansion via its cloud strategy, the analyst tells investors in a research note. The firm says the shares are priced like the company’s revenue will decline into perpetuity. It has increased confidence in Teradata’s ability to achieve or even exceed its 2023 annual recurring revenue guidance, and believes its 2025 guidance now "seems less risky." Teradata shares are "simply too cheap," contends Guggenheim.