Financial News

Jefferies: buy this little-known stock as Nvidia rallies on Q4 earnings

By: Invezz
buy amdocs stock as nvidia rallies on q4 earnings

Investors should consider investing in Amdocs Ltd (NASDAQ: DOX) for exposure to continued growth in artificial intelligence, says George Notter – a Jefferies analyst.

Amdocs recently partnered with Nvidia

The Israeli company teamed up with Nvidia Corp last year to accelerate adoption of Gen AI in the telecom industry. According to Notter:

The company has a strong runway ahead in their AI opportunity, especially with their new Nvidia deal. Legacy business pressures seem to be temporary. We remain bullish on $DOX.

The news arrives only weeks after the multinational reported in-line revenue for the first quarter. Its per-share earnings, however, came in marginally below Street estimates.

Jefferies’ Notter remains bullish on Amdocs stock even though it has already gained close to 15% over the past four months.

Amdocs stock has upside to $105

George Notter recommends buying Amdocs stock also because there’s a massive “opportunity to shift customers to cloud”.

He’s constructive on the software company as it has a “competitive moat” and “very sticky customers” as well.

The Jefferies analyst is confident that $DOX will hit $105 by the end of this year on “additional business as operators push AI and Cloud”. His price objective suggests a near 20% upside from here.

Note that Statista forecasts the artificial intelligence market to grow up to tenfold by the end of this decade. Amdocs Ltd does also pay a dividend yield of 2.14% at writing which makes up for another good reasons to have it in an investment portfolio.

The post Jefferies: buy this little-known stock as Nvidia rallies on Q4 earnings appeared first on Invezz

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • US News
  • Weather
  • State News
  • Events
  • Traffic
  • Sports
  • Dining Guide
  • Real Estate
  • Classifieds
  • Financial News
  • Fire Info
Feedback