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Technology Stocks : DLB Dolby Laboratories
DLB 61.300.0%Dec 12 8:04 PM ESTNews

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From: Cooters9/15/2017 3:44:53 PM
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CFRA is the old S&P or S&P Capital IQ

September 13, 2017

02:51 pm ET ... CFRA REDUCES VIEW ON SHARES OF DOLBY LABORATORIES TO
HOLD FROM BUY (DLB 58.88***):We raise our 12-month target price by $3 to $63,
21.8X our FY 18 (Sep.) EPS estimate, in line with relative peers, but above its
historical average, around 18X.We keep our EPS estimates for FY 17 at $2.57 but
increase our FY 18 EPS to $2.90 from $2.86, taking into account incremental
royalties from the inclusion of Dolby Vision (High Dynamic Range) in the iPhone X,
iPhone 8 and Apple TV 4K. Although we remain encouraged by DLB's momentum
establishing a larger presence in mobile (vision and audio), we note variability in
timing of payments may clout visibility near term. /D. Holt


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This is basically a downgrade on the price rise, on valuation. I think that is exactly where we are at with DLB at the moment. Future bright and getting a little brighter, stock price reflects it
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