Deutsche Bank Downgrades Cree (CREE) to Hold, Says Margin Upside Priced In

November 29, 2012 6:56 AM EST Send to a Friend
Get Alerts CREE Hot Sheet
Price: $36.74 --0%

Rating Summary:
    8 Buy, 27 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Deutsche Bank downgraded Cree (NASDAQ: CREE) from Buy to Hold with a price target of $33.00.

The firm comments, " While we continue to see positive momentum in the LED lighting market, we believe shares are already discounting strong growth and margin improvement given the 50% ytd increase vs 11% increase for S&P. With shares trading near high end of historical valuation range/premium to peers we believe risk-reward is now balanced especially considering limited near term positive demand catalysts over a seasonally weak Mar Q timeframe."

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 $33.56 yesterday.


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