Barclays lowered the firm’s price target on Amdocs to $105 from $115 and keeps an Overweight rating on the shares. The company’s fiscal 2024 guidance missed both estimates with Amdocs pointing to a slowdown in legacy investments, the analyst tells investors in a research note. The firm sees the company as well positioned to capitalize on new domain growth, but says this might take longer than anticipated given the macro headwinds.
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