Why Dolby Laboratories, Inc. Stock Popped Today
Shares of Dolby Laboratories Inc. (NYSE: DLB) popped as much as 10.8% on Wednesday following multiple analyst upgrades driven by the inclusion of Dolby Vision technology in new Apple (NASDAQ: AAPL) products. As of 3:04 p.m. EDT, the stock was up 9%.
Dolby enjoyed positive notes from analysts including Piper Jaffray's Michael Olson, who maintained his neutral rating on Dolby stock but increased his per-share price target from $49 to $52, and B. Riley's Eric Wold, who reiterated his buy rating and price target of $61.50 per share. Dolby stock closed on Tuesday at $53.94 per share.
Image source: Dolby.
Source: Fool.com
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