Piper Jaffray Maintains Neutral on DTS (DTSI)

Piper Jaffray is out with its report today on DTS DTSI, maintaining Neutral. In a note to clients, Piper Jaffray writes, "We are maintaining our Neutral rating and $46 target, which is now based on 25x CY12E PF EPS of $1.80 (previously 35x CY12E GAAP EPS of $1.33). We believe a lower multiple is justified as we are now basing our price target off of PF EPS estimates." Shares of DTSI closed Tuesday at $43.66.