Amdocs price target lowered to $100 from $105 at BofA

BofA lowered the firm’s price target on Amdocs to $100 from $105 and keeps a Buy rating on the shares after the company reported in-line Q2 results and gave weaker-than-expected second half guidance. The firm reduced its estimates and multiple to reflect the current business weakness, but believes “the long-term opportunity remains solid,” the analyst tells investors.