As previously reported, BofA downgraded Teradata to Neutral from Buy with a price target of $48, down from $58, following the company’s Q4 report, citing a weaker trajectory in FY24 leading to a higher hurdle to achieve its FY25 goals. On-premise erosion creates risks for the future migration pipeline and marginal improvement in free cash flow increases risk to long-term guidance, the analyst added in a post-earnings note.
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