Shares of Teradata (TDC) are soaring 5.00% in pre-market trading on Monday, following a significant analyst upgrade. The surge comes as investors react positively to the new bullish stance on the company's stock.
Citizens JMP has upgraded Teradata from Market Perform to Outperform, setting a new price target of $42. The upgrade is based on the firm's assessment that Teradata has successfully repositioned itself, potentially for better market performance. This new target represents a substantial upside from the stock's previous closing price, likely contributing to the strong pre-market rally.
Prior to this upgrade, Teradata had an average rating of "hold" among analysts polled by FactSet, with a mean price target of $27.80. The new outperform rating and higher price target from Citizens JMP could signal a shifting sentiment towards the company, which may attract more investor attention in the coming trading sessions.
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