Roth Capital Would be Buyers of Cree (CREE) on Turnaround; Affirms at 'Buy'

October 19, 2016 8:57 AM EDT
Get Alerts CREE Hot Sheet
Price: $28.05 +1.56%

Rating Summary:
    12 Buy, 23 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Roth Capital affirms Cree, Inc., (Nasdaq: CREE) with a Buy rating and $34 price target following Q1 results and outlook issued Tuesday night.

The firm commented, Cree posted modest F1Q17 (Sept.) upside, delivering revenue and adj-EPS $1.3m and $0.01, above our respective estimates. The midpoint guide was below our model on expectations for a mild ramp in commercial sales. We believe the Lighting Products segment is poised for strong positive gains as the Gen3/Gen4 bulb reset appears nearly complete, and management reported a strong inflection in quoting activity. We would be buyers for a turnaround, where the key actions have already been taken, in our view.

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

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