Oppenheimer Reiterates Outperform on Amdocs (DOX) Following Strong 3Q Results

Oppenheimer reiterated an Outperform rating and $65.00 price target on Amdocs Ltd. (NASDAQ: DOX) following the company's 3Q earnings report. Revenue of $930M came in ahead of the consensus estimates of $928M. EPS of $0.90 also beat the consensus at $0.87.

Analyst Shaul Eyal commented, "For F3Q16 (June '16), DOX delivered solid results, posting $0.90/$930M (revs +2.4% y/y). In a further indication of the strength of DOX's relationship with AT&T, DOX announced that it will be the integrator for telecom companies and cloud developers using AT&T’s ECOMP platform. AT&T created and developed ECOMP and committed to releasing the code into open source. DOX will help companies with deployment. Last quarter, DOX announced that it was selected by AT&T to provide key components of AT&T's Domain 2.0 initiative. Separately, DOX announced that during 3Q, a leading North American MSO selected DOX's solutions for its Enterprise business. 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 $58.55 yesterday.

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