Amdocs price target lowered to $111 from $113 at Barclays

Barclays lowered the firm’s price target on Amdocs (DOX) to $111 from $113 and keeps an Overweight rating on the shares following the CEO roadshow. The company is phasing out low-margin non-core businesses in a move that management indicated will boost recurring revenue and bring fiscal 2025 operating margin north of 21% while delivering double-digit shareholder return, the analyst tells investors in a research note.