Oppenheimer Reaffirms Outperform On Amdocs, $52 PT

Oppenheimer analyst Shaul Eyal reaffirmed an Outperform rating on Amdocs (NASDAQ:DOX) with a price target of $52.00, which represents a potential upside of 8% from where the stock is currently trading.

Eyal commented, “For 4Q14 (Sept), DOX delivered revenue of $900M, up 6.5% y/y. FX penalized revenue by $6M. EPS rose 23% to $0.78. North America was the strongest geographic segment, with revenue up 9%. For FY15, DOX guided revenue up 2.5-5.5% and EPS up 4.5-7.5% (including the impact of buybacks), but guidance reflects a 1% headwind from FX and a 1% drag from the directory business which is expected to decline double digits. DOX is increasing its quarterly dividend to $0.17/share, representing a yield of ~1.4% (shareholder approval expected in Jan. 2015). DOX continues to perform steadily, and remains the go-to vendor for large, transformative deals.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Shaul Eyal has a total average return of 8.9% and a 74.3% success rate. Eyal has an 2.0% average return when recommending DOX, and is ranked #316 out of 3363 analysts.

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