In a report released today, James Goss from Barrington reiterated a Buy rating on Dolby Laboratories (DLB – Research Report), with a price target of $115.00. The company’s shares closed last Friday at $75.86, close to its 52-week low of $75.36.
According to TipRanks.com, Goss is ranked 0 out of 5 stars with an average return of -3.1% and a 37.4% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment Class A, Clear Channel Outdoor, and National Cinemedia.
Currently, the analyst consensus on Dolby Laboratories is a Strong Buy with an average price target of $109.33, a 30.2% upside from current levels. In a report issued on February 4, Colliers Securities also maintained a Buy rating on the stock with a $100.00 price target.
Based on Dolby Laboratories’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $352 million and net profit of $80.01 million. In comparison, last year the company earned revenue of $390 million and had a net profit of $135 million.
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Dolby Laboratoties, Inc. designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.
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