Investing
Goldman Sachs Changes on Conviction Buy List in Tech (DOX, ADP, SNCR, SVR)
Published:
This morning Goldman Sachs has announced some changes to its CONVICTION BUY LIST:
- Amdocs (NYSE: DOX) is being added to the Americas Conviction Buy list with a 49% return potential to its target after its earnings report. Recent order flows should give the company a healthy 2008 with accelerating revenue growth and limited macroeconomic headwinds.
- Automatic Data Processing (NYSE: ADP) is being kept officially as a Buy rating at Goldman, but it is being pulled off of the Conviction Buy List as part of a "moving away from macro-sensitive trends." ADP is down 15.5% since being added, slightly worse than the S&P at -14.3%, and it has underperformed the S&P over a 6-month and 12-month period.
In the larger Amdocs call away from macro-sensitivity, Goldman Sachs said it is also noting Synchronoss Technologies (NASDAQ: SNCR) as one of its best buy ideas (has a Buy rating). Goldman is also becoming increasingly optimistic on Syniverse (NYSE: SVR) (although it has a neutral rating today).
Jon C. Ogg
January 23, 2008
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