UPDATE: Sterne Agee Initiates Teradata at Neutral

Sterne Agee is out with its report today on Teradata (NYSE: TDC), initiating TDC at Neutral.

In a note to clients, Sterne Agee writes, "We are initiating coverage of Teradata Corporation with a Neutral rating. Despite a solid FY2010 off depressed Y/Y compares, we believe the competitive landscape in the Enterprise Data Warehouse market is undergoing structural changes and this could limit Teradata's ability to material upside estimates in FY2012."

At the time of posting, shares of TDC were trading at $57.21, up 0.39% from Monday's close.