Analyst Holds Buy Rating on Dolby After 'Good Expansion' of Atmos, Vision at CES
Dougherty & Co. analyst Steven Frankel repeated a “buy” rating on Dolby Labs after “good expansion” of the ecosystem for Dolby Vision and Atmos at CES. Frankel, in a note to investors Friday, maintained a price target of $66 a…
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share on the company’s “dominant competitive position, strong cash flow, increased traction with new revenue initiatives and potential for material operating margin expansion.” Frankel’s technology questions ahead of Dolby’s Wednesday earnings focused on Dolby’s share of the 4K market with Dolby Vision; the number of Dolby Cinema locations opening this year; and the presence of Dolby technology at Mobile World Congress next month. Dolby shares closed 1.4 percent higher Friday at $64.05.