Deutsche Bank Reiterates a 'Buy' on DTS, Inc. (DTS); Black Friday Should Be a Positive Catalyst
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Deutsche Bank reiterates a 'Buy' rating on DTS, Inc. (NYSE: DTS), price target $35.
Deutsche analyst says, "Our latest survey suggests improved demand as more players are below the $150 level and sellout rates improved to the highest levels in six months. Initial Black Friday advertisements look to be encouraging as we have seen some compelling deals of Blu-ray sub $100. At these price points, we believe the decision between Blu-ray vs. DVD is almost a no-brainer. With its technology embedded on all Blu-ray devices, we think DTS is the best way to play this cycle...We continue to like DTS into the end of the year based on Blu-ray holiday momentum and Calpella insight. The stock trades at 28x and 20x 2010E and 2011E P/E, respectively. Our $35 PT is based on our DCF and embeds 2% tgr and a 17% WACC. Risks include slower adoption of Blu-ray, shift towards on-line content delivery and lack of traction with Calpella."
To see all the upgrades/downgrades on shares of DTS, visit our Analyst Ratings page.
DTS, Inc. provides entertainment technologies that are incorporated into an array of entertainment products.
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That is Ridiculous
pillpoppinpuppy on Nov 25, 2009 08:05 AMManagement's own projection is for 4Q rev of $10 million, DOWN from $18 million in 4Q08. And, the analyst is just making up the P/E multiples. Based on consensus estimates, and backing out unusual items, the stock is trading at 60X '09 and 40X '10 estimated EPS.