Amdocs (DOX) Is A Winner In The Time Warner/AT&T Merger - Oppenheimer
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Oppenheimer analyst, Shaul Eyal, reiterated his Outperform rating on shares of Amdocs Ltd. (NASDAQ: DOX) on the belief that an AT&T/Time Warner merger could benefit DOX longer term.
If the transaction closes, it would require the seamless migration of millions of subscribers from one platform to another as well as the introduction of new product offerings (On-demand payments, retention monitoring etc).
DOX has established itself as one of the most capable vendors in the industry, with a proven track record demonstrating its ability to migrate large numbers of subscribers following major industry consolidations. In addition, T is DOX's largest customer, having generated 34% of DOX's FY15 revenue, which we view as a strong affirmation of the close relationship formed over the decades. In short, DOX is likely to receive incremental business as Time Warner is brought in.
No change to the price target of $65.
Shares of Amdocs Ltd. closed at $58.99 yesterday.
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