In a report published Thusday Morning, Oppenheimer analyst, Shaul Eyal upgrades Amdocs Ltd DOX from Perform to Outperform, also setting a price target of $47.
The report highlights their reason for the upgrade including F1Q results exceeding expectations, good cash-flow generation, and increased dividends. Eyal comments, "We believe that if the market is heading into a period of greater uncertainty, investors will look toward more stable names such as DOX. DOX is the go-to provider in its space, particularly for transformational projects, and with the macro outlook stabilizing and momentum building, we are upgrading DOX to Outperform."
DOX closed Wednesday $42.14 and currently trading up at the $43.80 mark.
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