Dolby price target lowered to $95 from $100 at Barrington

Barrington lowered the firm’s price target on Dolby (DLB) to $95 from $100 and keeps an Outperform rating on the shares following the fiscal Q4 report. The macro environment remains a headwind for the company’s foundational revenues, the analyst tells investors in a research note. However, the firm says Dolby has been able to gain adoption of its technologies and generate revenue growth in a “choppy” macro environment.