Oppenheimer Believes Amdocs Limited Stands to Benefit from AT&T's Acquisition of T-Mobile USA (DOX, T)

Oppenheimer is out with a report today in which it notes that Amdocs Limited DOX is in a position to benefit from AT&T's T acquisition of T-Mobile USA. In a note to clients, Oppenheimer writes, "On 3/20, AT&T announced an agreement to acquire T-Mobile USA from Deutsche Telekom for $39B in cash and stock, and we believe DOX is well positioned to benefit if this deal gets done. AT&T is DOX's largest customer, generating 29% of DOX's FY10 revenue, and DOX has solid relationships with T-mobile USA and its parent Deutsche Telekom (T-Mobile is highlighted as a customer on DOX's corporate web site)." Oppenheimer maintains Outperform and a $34 PT on DOX. Shares of DOX closed Friday at $28.30.