Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

JP Morgan Downgrades Amdocs to 'Market Perform'


JP Morgan downgraded Amdocs (DOX) to market perform from long term buy.

Analyst Sterling Auty says the demand outlook continues to be bleak. He says the capital expenditures environment is tougher than ever, with new deals harder to come by; customers want smaller deals, larger discounts, and creative pricing. He believes this downward pressure on margins adds incremental earnings per share risk. Auty says the backlog is performing a disappearing act.

He cut his $0.33 fiscal 2002 (Sept.) EPS estimate to $0.17, and cut the $0.43 fiscal 2003 estimate to $0.25. He does not think the stock will appreciate in the near term as telecom spending malaise continues.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus