Barclays Maintains an 'Overweight' on Amdocs Ltd. (DOX); A True Value Stock

Barclays maintains an 'Overweight' on Amdocs Ltd. (NYSE: DOX) price target of $36.00.

Barclays analyst says, "Best of class shines through in 4Q: Amdocs reported revenues slightly ahead of our estimates driven by the Bridgewater acquisition. DOX continues to offer shareholders an attractive value proposition supported by an active share buy-back program that has purchased 17% of the outstanding shares since April 2010."

"Europe shows positive signs, but we are holding expectations in check: The EU continues to recover and is now seeing sales equal to early 2009 levels. That being said, we do not see a short-term catalyst that would accelerate growth significantly there. Clearly, the potential AT&T (NYSE: T) / T-Mobile merger also poses a risk for DOX."

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 $29.88 yesterday.

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