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Technology Stocks : DLB Dolby Laboratories

DLB 65.55

-0.4%

Nov 14 9:30 AM EST

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From: Cooters	10/27/2017 12:29:52 PM
	of 324

CFRA REITERATES HOLD OPINION ON SHARES OF DOLBY LABORATORIES 10:01 AM ET 10/27/17 \| CFRA CFRA REITERATES HOLD OPINION ON SHARES OF DOLBY LABORATORIES We keep our 12-month target of $63, 22.0X our FY 18 (Sep.) EPS estimates, in line with peers but above DLB's 5-year average of 17.5X. We trim our FY 18 EPS estimate by $0.03 to $2.87 and set FY 19's EPS at $3.27. DLB posts Sep-Q EPS of $0.45 vs. $0.37, above the $0.42 consensus. Revenues rose 3.9% but missed consensus, due to timing of payments around consumer electronics and mobile. While recovery volatility will be a drag into Dec-Q, longer term, we think the recent Dolby Vision and Apple (iPhone X, 8, and Apple TV 4K) partnership could drive adoption at incremental OEMs

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