UPDATE: Oppenheimer Upgrades Amdocs, Safe-Haven Investment Vehicle in Uncertain Market

In a report published Thusday Morning, Oppenheimer analyst, Shaul Eyal upgrades Amdocs Ltd (NYSE: DOX) from Perform to Outperform, also setting a price target of $47.

The report highlights their reason for the upgrade including F1Q results exceeding expectations, good cash-flow generation, and increased dividends. Eyal comments, "We believe that if the market is heading into a period of greater uncertainty, investors will look toward more stable names such as DOX. DOX is the go-to provider in its space, particularly for transformational projects, and with the macro outlook stabilizing and momentum building, we are upgrading DOX to Outperform."

DOX closed Wednesday $42.14 and currently trading up at the $43.80 mark.