UPDATE: Stifel Nicolaus Raises PT on Amdocs Following F3Q13 Results Report

In a report published Thursday, Stifel Nicolaus analyst Tom Roderick reiterated a Buy rating on Amdocs DOX, and raised the price target from $40.00 to $42.00.

In the report, Stifel Nicolaus noted, “Amdocs reported F3Q13 results after the market close on Wednesday, July 31st. Even as winds of change in the North American carrier market have begun to blow with recent consolidation events swirling around Leap Wireless (AT&T to acquire), T-Mobile and Sprint, the outlook for Amdocs stayed largely the same as we have seen over the past several quarters, with growth still bubbling up in the low/mid single digits and operating margins holding steady in the high 16% range. We expect this picture to continue for the near-term future, though we are optimistic that structural changes across the industry could indeed drive a positive inflection point for infrastructure investments and consolidated billing and customer care systems.”

Amdocs closed on Wednesday at $38.47.