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UPDATE: Goldman Sachs Initiates Dolby Laboratories with Sell, $39 PT on Headwinds

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Goldman Sachs initiates its coverage on Dolby Laboratories (NYSE: DLB) with a Sell rating and a price target of $39.

Goldman Sachs notes, "We like Dolby's brand recognition, broad ecosystem, and international growth opportunities. However, we expect two headwinds to weigh on the company's near-term results: 1) ongoing secular trends moving to new form factors (e.g., smartphones, tablets) with lower revenue per unit, and where we think demand for premium sound on mobile devices is debatable, and 2) reliance on consumer discretionary spend amid high levels of unemployment."

DLB closed at $41.62 on Wednesday.

Latest Ratings for DLB

DateFirmActionFromTo
Apr 2015JP MorganUpgradesNeutralOverweight
Oct 2014JP MorganMaintainsNeutral
Jul 2014JP MorganMaintainsUnderweight

View More Analyst Ratings for DLB
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Initiation Pre-Market Outlook Analyst Ratings

 

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