Collins Stewart Downgrades Dolby Laboratories (DLB) to Neutral; Win 8 to Exclude Dolby Digital
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Price: $34.43 +0.15%
Rating Summary:
5 Buy, 5 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
5 Buy, 5 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade DLB Now!
Collins Stewart downgraded Dolby Laboratories (NYSE: DLB) from Buy to Neutral with a price target of $45.00.
Collins analyst says, "We are downgrading DLB following inline quarterly results and guidance (Excluding a one-time $15M settlement with RIMM), as DLB announced its codec will not be included in MSFT Windows 8. We est that ~$120M in revs could be at risk when Win 8 is released beginning in 2012. While we anticipate that ISV revs of ~$80M will likely increase, as PC OEMs will still provide a DVD player on PCs, we believe this event will become an overhang on the stock and pose headwinds to growth. We recommend the sidelines and await further clarity."
For more ratings news on Dolby Laboratories click here and for the rating history of Dolby Laboratories click here.
Shares of Dolby Laboratories closed at $37.67 yesterday, with a 52 week range of $37.64-$69.69.
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Collins analyst says, "We are downgrading DLB following inline quarterly results and guidance (Excluding a one-time $15M settlement with RIMM), as DLB announced its codec will not be included in MSFT Windows 8. We est that ~$120M in revs could be at risk when Win 8 is released beginning in 2012. While we anticipate that ISV revs of ~$80M will likely increase, as PC OEMs will still provide a DVD player on PCs, we believe this event will become an overhang on the stock and pose headwinds to growth. We recommend the sidelines and await further clarity."
For more ratings news on Dolby Laboratories click here and for the rating history of Dolby Laboratories click here.
Shares of Dolby Laboratories closed at $37.67 yesterday, with a 52 week range of $37.64-$69.69.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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