Amdocs price target raised to $110 from $100 at BofA

BofA raised the firm’s price target on Amdocs to $110 from $100 and keeps a Buy rating on the shares as the firm adjusted targets for several stocks across its Data Networking and Cybersecurity coverage universe. Despite a challenging macro environment and networking peer results signaling some weakness in the Service Provider segment, Amdocs continues to win multiple transformation projects, the analyst tells investors.