Deutsche Bank Downgrades Cree (CREE) to Hold, Says Margin Upside Priced In
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Price: $60.41 +0.94%
Rating Summary:
14 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
14 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade CREE Now!
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, with a 52 week range of $20.25-$33.60.
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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, with a 52 week range of $20.25-$33.60.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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