Goldman Sachs Slashes Price Taget and Estimates on Dolby Laboratories (DLB)

Goldman Sachs lowered estimates and its price target on Dolby Laboratories (NYSE: DLB) from $35 to $26 while keeping its Sell rating citing lower TV and 3D data.

The firm noted that its Japan Consumer Electronics analyst now estimates 2011 LCD TV growth of +4% (vs. +8% previously) and 2012 growth of +5% (vs. +11%). In addition, there is weak 3D industry demand highlighted by Sony’s recent refusal to pay for 3D glasses going forward and increased competition from RealD (NYSE: RLD).

The firm now sees FY2011E-2013E EPS of $2.67, $2.62 and $2.55 vs. $2.69, $2.75, and $2.96.

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 $28.75 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• NetEase.com (NTES) PT Raised to $168 at Goldman Sachs
• Walmart (WMT) PT Lowered to $126 at BofA Securities
• Marti Technologies (MRT) PT Raised to $6 at Benchmark on Stronger Growth, Improved Earnings Visibility