![](https://www.newspostalk.com/wp-content/uploads/https://image.cnbcfm.com/api/v1/image/107270651-16891871352023-07-12t065357z_76281055_rc2gx1amogo7_rtrmadp_0_china-regulation-ai.jpeg?v=1701205960&w=1920&h=1080)
![](https://www.newspostalk.com/wp-content/uploads/https://image.cnbcfm.com/api/v1/image/107270651-16891871352023-07-12t065357z_76281055_rc2gx1amogo7_rtrmadp_0_china-regulation-ai.jpeg?v=1701205960&w=1920&h=1080)
[ad_1]
Investors looking for ways to play the artificial intelligence frenzy may want to take a look at this little-known communications software stock doing business with Nvidia . Jefferies analyst George Notter reiterated his buy rating on Amdocs , citing the company’s key advantages within the artificial intelligence space. “There’s a ton of opportunity to shift customers to Cloud,” he wrote in a recent note. “The company also 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 the stock.” DOX 1Y mountain Stock performance over the last year Underpinning Notter’s bullish stance is a bet on the company’s opportunity runway as companies transition to the public cloud, noting that 90% of Amdocs users run antiquated non-cloud based offerings. Critical to the company’s AI strategy is its recent partnership with Nvidia to customize large language models utilizing the chipmaker’s AI foundry service, Notter said. Its “mission-critical system” and barriers to implementing AI-based software tools into service provider networks also puts it at an advantage. “Amdocs is a high-quality company with a competitive moat, very sticky customers, nearly 75% recurring revenue, and good growth prospects,” he said. “Moreover, we think they’re just beginning to tap into a nice potential opportunity to drive additional business as operators push AI and Cloud” into their systems. Despite these opportunities, Amdocs is bracing for slower growth in 2024 as legacy services divert spending toward large network transformation projects, Notter noted. But these headwinds should pass. “Hence, this revenue pressure — at some point — should come off for Amdocs,” he wrote. “Keep in mind that Amdocs’ guidance assumes the pressure remains a factor over the balance of the year. This is an area of potential upside in our view.” Amdocs shares have added about 1.7% this year, but sit about 2.6% lower month to date. Jefferies retained its $105 price target, implying about 17% upside from Tuesday’s close.
[ad_2]
Source link
Batman138 Bro138 Dolar138 Gas138 Gudang138 Hoki99 Ligaciputra Panen77 Zeus138 Kilat77 Planet88 Gaspol168 Sikat88 Rupiah138 Garuda138 Gacor77 Roma77 Sensa138 Panen138 Slot138 Gaco88 Elanggame Candy99 Cair77 Max7 Best188 Space77 Sky77 Luxury777 Maxwin138 Bosswin168 Cocol88 Slot5000 Babe138 Luxury138 Jet77 Bonanza138 Bos88 Aquaslot Taktik88 Lord88 Indobet Slot69 Paus138 Tiktok88 Panengg Bingo4d Stars77 77dragon Warung168 Receh88 Online138 Tambang88 Asia77 Klik4d Bdslot88 Gajah138 Bigwin138 Markas138 Yuk69 Emas168 Key4d Harta138 Gopek178 Imbaslot Imbajp Deluna4d Luxury333 Pentaslot Luxury111 Cair77 Gboslot Pandora188 Olxtoto Slotvip Eslot Kuy138 Imbagacor Bimabet