Oppenheimer Thinks Amdocs’ Stock is Going to Recover


Oppenheimer analyst Shaul Eyal reiterated a Buy rating on Amdocs (DOX) today and set a price target of $77. The company’s shares closed yesterday at $60.04, close to its 52-week low of $58.92.

Eyal commented:

“Following DOX’s upbeat 12/11 York, we believe the company is experiencing healthy demand trends, and remains an innovation leader, supporting its customers on their path to digital transformation. We believe DOX’s relationship with T (27% of DOX’s FY18 revenue) remains strong. Robust drivers—the shift to digital, the virtualization of networks, the roll-out of 5G, the transformation of the Media & pay- TV industry, and the rise of the integrated carrier—are set to power the company’s growth. New capabilities enabled by technological advances along with consumers’ demands for more choices, faster service, and an enhanced customer experience should prompt service providers to seek out the best partners, such as DOX. $77 target.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 13.6% and a 61.8% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amdocs with a $73.67 average price target.

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Amdocs’ market cap is currently $8.49B and has a P/E ratio of 24.51. The company has a Price to Book ratio of 2.41.

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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, service-driven network and other network solutions, entertainment offerings, and digital solutions. The company was founded in 1988 and is headquartered in Chesterfield, MO.

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