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Fly News Breaks for April 25, 2018
DLB
Apr 25, 2018 | 09:17 EDT
William Blair analyst Ralph Schackart attributes the post-earnings weakness in Dolby share to investors being disappointed by the "relatively weak" Q3 revenue guidance as well as foreign exchange-affected operating expense guidance. The analyst, however, sees optimism from management as a result of increasing full-year top-line guidance by $10M, despite a narrow beat on revenue this quarter. New products are still on pace to double in revenue in fiscal 2018, from a 2017 base of $60M, Schackart tells investors in a research note. He believes the shares over the next 12 months can reach the mid-$80s. The analyst maintains an Outperform rating on Dolby.
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