Miller Tabak Upgrades Dolby Laboratories (DLB) to Buy; Higher PC Industry Unit Sales Expectations
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Price: $79.16 --0%
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 4
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 4
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Miller Tabak upgraded Dolby Laboratories (NYSE: DLB) from Neutral to Buy. PT $57.
Miller analyst says, "We upgrade our recommendation to Buy due to the recent decline in stock that should see a positive sentiment rebound; the 8.8x â11E OI multiple is reasonable, while the FCF multiple of 15.7x has narrowed its premium to its 9.2% CAGR. The 15.8x â11E EPS for a company that should be growing EPS almost 9% compounded still gives us some hesitation, as it is not comparable to media peers but rather technology peers.:
"We increase 2Q11E total revenue to $244 mm from $242 mm, and Fâ11 to $995 mm (+7.8%) from $980 mm, â11E operating income to $455 mm (+6.0%) from $447 mm, Net Income to $321 mm or $2.82/sh from $316 mm or $2.77/sh, and FCF of $333 mm from $328 mm."
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 $44.48 yesterday.
Miller analyst says, "We upgrade our recommendation to Buy due to the recent decline in stock that should see a positive sentiment rebound; the 8.8x â11E OI multiple is reasonable, while the FCF multiple of 15.7x has narrowed its premium to its 9.2% CAGR. The 15.8x â11E EPS for a company that should be growing EPS almost 9% compounded still gives us some hesitation, as it is not comparable to media peers but rather technology peers.:
"We increase 2Q11E total revenue to $244 mm from $242 mm, and Fâ11 to $995 mm (+7.8%) from $980 mm, â11E operating income to $455 mm (+6.0%) from $447 mm, Net Income to $321 mm or $2.82/sh from $316 mm or $2.77/sh, and FCF of $333 mm from $328 mm."
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 $44.48 yesterday.
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