Oppenheimer Reiterates Outperform on Amdocs (DOX) Following Analyst Day

Oppenheimer reiterated an Outperform rating and $65.00 price target on Amdocs Ltd. (NASDAQ: DOX) following the company's analyst day.

Analyst Shaul Eyal commented, "On 12/14, in New York, DOX hosted an Analyst Day focused on a set of longer term growth drivers including the ongoing shift to digital, the virtualization of networks, increased focus on enterprise, transformation of the pay TV industry, and the rise of the integrated carrier. The timing of some of these drivers is uncertain as they depend on strategic change decisions being made by relatively cautious telecom/MSO firms. Over the next three years, DOX sees organic revenue growth of 2-5% with non-GAAP operating margins of 16.4-17.4% driving EPS growth of 4.5% to 8.5% and a total return to shareholders of 6-10% (including a 1.5% dividend yield). Reiterate Outperform and $65 target."

For an analyst ratings summary and ratings history on Amdocs Ltd. click here. For more ratings news on Amdocs Ltd. click here.

Shares of Amdocs Ltd. closed at $60.30 yesterday.

You May Also Be Interested In

• Deutsche Bank Upgrades MSCI Inc. (MSCI) to Buy, 'Compelling entry point for long-term investors'
• BTIG Downgrades HashiCorp Inc (HCP) to Neutral
• BofA Securities Downgrades CEMEX (CX) to Neutral