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Stifel pleased by Amdocs profit beat; shares +11.5%

May 15, 2019 11:54 AM ETAmdocs Limited (DOX) StockDOXBy: Jason Aycock, SA News Editor
  • Stifel says Amdocs (DOX +11.5%) made a "solid start" on regaining confidence after the company topped profit expectations yesterday amid customer and territory gains.
  • The company answered some hanging questions, including reducing unbilled receivables by $47M in a "nice drop," analyst Tom Roderick says. Meanwhile, he's optimistic that AT&T will re-accererate new business through the remaining two quarters of the fiscal year and into the next, after its run rate came in below expectations. (h/t Bloomberg)
  • He's got a Buy rating and a $70 price target, now implying 17.4% upside.
  • Earnings call transcript

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