In a report released today, Shaul Eyal from Oppenheimer reiterated a Buy rating on Amdocs (DOX), with a price target of $77. The company’s shares closed yesterday at $66.37.
Eyal said:
“Following meetings with DOX’s management team, our takeaways include the following: 1) Recently appointed CEO, Mr. Shuky Sheffer is likely to maintain a disciplined financial and strategic leadership style similar to his predecessor. 2) We view the recent F4Q softness at AT&T as temporary, associated more with discretionary rather than non-discretionary spending priorities—we have witnessed this phenomenon in prior years. 3) We view DOX’s longer-term cash flow patterns as intact despite recent quarter’s dip which is associated with a legal settlement and new campus investment. 4) Fundamentally, we view the long-term shift to 5G network coupled with NFV as well as media/digital lifestyle providing DOX with growth opportunities within current and new customers. $77 target.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 14.4% and a 65.6% success rate. Eyal covers the Technology sector, focusing on stocks such as Proofpoint Inc, Nice-Systems, and Mimecast Ltd.
Currently, the analyst consensus on Amdocs is a Moderate Buy with an average price target of $75.50, implying a 13.8% upside from current levels. In a report issued on November 9, Citigroup also maintained a Buy rating on the stock with a $74 price target.
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The company has a one-year high of $71.72 and a one-year low of $60.50. Currently, Amdocs has an average volume of 766.2K.
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Amdocs Ltd. is a holding company, which engages in the provision of software and services solutions for communications, entertainment and media industries. It specializes in the development, implementation, and management of software and services associate with business support systems, operational support systems, network solutions, and big data analytics to enable service providers introduce new products and services, process orders, monetize data, and support new business models. The company was founded in 1988 and is headquartered in Chesterfield, MO.
