DTS Stock Jumps Nearly 10 Percent on Upgrade

0

Shares of DTS Inc., the maker of audio equipment in Agoura Hills, increased almost 10 percent Monday morning after an analyst upgraded his rating of the stock to “buy” from “hold.”

In a note to investors, Brian Thackray at Deutsche Bank wrote that the price of Blu-ray DVD players has come down to $130, a point where consumers will start buying them en masse. DTS makes audio components for Blu-ray machines.

“Our work shows that demand increases significantly for Blu-ray players below $150 and we are starting to see the increased demand over the last few weeks,” the note stated.

Thackray predicted a coming period of rapid growth for DTS and increased his target price for the stock to $32 from $28.

By late morning, DTS was trading at $28.13, an increase of $2.50 or nearly 10 percent for the day.

No posts to display