UPDATE: Canaccord Genuity Raises PT to $43 on Dolby Laboratories; FQ2 Results
Canaccord Genuity raises its price target from $42 to $43 on Hold-rated Dolby Laboratories (NYSE: DLB) following fiscal Q2 results.
Canaccord Genuity says, "We maintain our HOLD rating and have increased our target to $43 (from $42) following DLB's FQ2/12 results. Broader media consumption trends are beginning a clear secular shift away from optical disk, which will likely create significant challenges for DLB in the coming years, in our opinion."
DLB closed at $44.76 on Monday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.