- Encouraged by signs of increased customer demand, Barrington Research upgrades Dolby Labs (NYSE:DLB) to Outperform with a $115 price target.
- "We had taken a more neutral stance at the start of the year in recognition of the strong performance over the second half of 2020 for the stock, while acknowledging the longer-term tailwinds from which we felt the company would derive benefit. The process of expanding adoption takes time, but we are encouraged by the company's progress in expanding the use cases and value of its technologies to create increased consumer demand for a high value experience," writes analyst James Goss.
- Dolby shares are up 2.6% to $99.69.
- Last week, Dolby shares pulled back after disappointing fourth quarter profit guidance.