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Investing

Goldman Sachs Changes on Conviction Buy List in Tech (DOX, ADP, SNCR, SVR)

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By Douglas A. McIntyre Published
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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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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