Canaccord Genuity Maintains a 'Buy' on Cree (CREE); Misses Expectations, Thesis Remains Intact
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Price: $59.08 -2.64%
Rating Summary:
14 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
14 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CREE Now!
Canaccord Genuity maintains a 'Buy' on Cree (NASDAQ: CREE) price target of $33.00.
Analyst, Jonathan Dorsheimer, said, "We maintain our BUY on CREE shares based on our thesis that investors should use 2012 volatility to build a position in front of 2013/2014 earnings power on improving lighting trends...We believe that the lighting macro is still well on track, especially for a strong 2013/2014. We continue to look through likely volatility, recognizing that Cree benefits as a pure-play with a likely margin-expansion story as the chip fab utilization rises with increasing demand."
For an analyst ratings summary and ratings history on Cree click here. For more ratings news on Cree click here.
Shares of Cree closed at $31.90 yesterday, with a 52 week range of $20.25-$44.83.
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Analyst, Jonathan Dorsheimer, said, "We maintain our BUY on CREE shares based on our thesis that investors should use 2012 volatility to build a position in front of 2013/2014 earnings power on improving lighting trends...We believe that the lighting macro is still well on track, especially for a strong 2013/2014. We continue to look through likely volatility, recognizing that Cree benefits as a pure-play with a likely margin-expansion story as the chip fab utilization rises with increasing demand."
For an analyst ratings summary and ratings history on Cree click here. For more ratings news on Cree click here.
Shares of Cree closed at $31.90 yesterday, with a 52 week range of $20.25-$44.83.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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