Cree (CREE) is Another Dead Man Walking - Analyst

May 23, 2012 11:15 AM EDT Send to a Friend
Get Alerts CREE Hot Sheet
Price: $31.31 +1.33%

Rating Summary:
    8 Buy, 27 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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At one point being compared to First Solar (NASDAQ: FSLR) would have been a good thing for a company to brag about... but not anymore.

Shares of Cree (NASDAQ: CREE) are getting punched in the gut Wednesday after Wunderlich Securities Theodore O'Neill said 'Cree is the First Solar of the LED space.'

O'Neill sees a lot of similarities between the two, noting competitive pricing forced First Solar to vertically integrate up the food chain, which is what Cree did last year. Also, CFOs at both companies left after the vertical integration shift.

O'Neill has a Sell and $20 price target on Cree.

For an analyst ratings summary and ratings history on Cree click here. For more ratings news on Cree click here.

Shares of Cree are down 5 percent today to $25.80.


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Comments

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Peter Whitesell on 2012-05-23 11:57:53
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I agree with Michael Calaizzo.


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