In a report issued on February 4, Paul J Chung from J.P. Morgan maintained a Buy rating on Dolby Laboratories (DLB – Research Report), with a price target of $105.00. The company’s shares closed last Friday at $76.07, close to its 52-week low of $75.23.
According to TipRanks.com, Chung is a 3-star analyst with an average return of 8.5% and a 58.6% success rate. Chung covers the Technology sector, focusing on stocks such as Motorola Solutions, Axon Enterprise, and Logitech.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Dolby Laboratories with a $106.67 average price target, a 36.8% 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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