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Fly News Breaks for August 2, 2019
Aug 2, 2019 | 11:47 EDT
B. Riley FBR analyst Eric Wold upgraded Dolby Laboratories to Buy from Neutral and raised his price target for the shares to $73 from $67. The analyst sees 22% upside potential given today's post-earnings selloff. The stock in late morning trading is down 12%, or $8.34, to $59.74. Wold is "increasingly optimistic" on Dolby's improving penetration rates for its audio/visual technologies and highlights its accelerated share repurchases.
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