UPDATE: Barrington Research Reiterates its Outperform Rating of Dolby Laboratories

In a report issued Friday, Barrington Research reiterated its Outperform rating of Dolby Laboratories

while lowering their price target from $50.00 down to $42.00. Barrington Research went on to say that "Management pointed to progress in broadcasting and mobile devices. However, weakness in consumer electronics products, including DVD and Blu-ray, is posing a drag. In addition, 3D remains a weak area, although the combined cinema efforts involving audio, video and 3D collectively remain an important effort." Dolby Laboratories traded around $35 Friday