UPDATE: Barrington Research Lowers PT on DTS Inc. from $39 to $29

Barrington Research reiterated an Outperform rating on DTS

and lowered its price target from $39 to $29. Barrington Research noted, “DTS preannounced second quarter results, pointing to reduced expectations for revenues and profits. The motivation for the preannouncement was the impending final shareholder vote for the SRS Labs Inc. (SRSL) acquisition, which is set to close on Friday, July 20, 2012. DTS' management was aware that second quarter results would fall short of consensus expectations due to a combination of operating and non-operating items and concluded it would be appropriate in light of the impending vote to issue a press release and an SEC Form 8-K to outline its latest expectations.” DTS closed at $18.28 on Tuesday