UBS Downgrades Cree, Inc. (CREE) to Neutral; Near-term Concerns
- Siemens to Acquire Dresser-Rand Group (DRC) in $7.6 Billion Deal
- EMC (EMC) Considers Merger With Rival - WSJ
- Top 10 News for 9/15 - 9/19: Markets Welcome Alibaba IPO; New iPhone Sets Records; Fed Remains Accommodative
- Alibaba (BABA) IPO Lights Up Wall Street
- Stock Futures Higher as Scotland Votes Down Independence, Alibaba's (BABA) IPO Prices
UBS downgrades Cree, Inc. (Nasdaq: CREE) from Buy to Neutral. PT slashed from $83 to $64.
UBS analyst's highlighted points include: 1) Near term concern from demand air-pocket in consumer electronics LEDs; 2) But general lighting LED opportunity still showing signs of strong growth; and 3) Lowering estimates to account for less spot market sales of LED chips (FY11 and FY12 EPS estimates are $2.41 and $3.32 versus $2.50 and $3.49, previously)."
To see all the upgrades/downgrades on shares of CREE, visit our Analyst Ratings page.
Cree, Inc. develops and manufactures semiconductor materials and devices based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.
You May Also Be Interested In
- Baird Downgrades InvenSense (INVN) to Neutral
- Raymond James Downgrades First Financial Bankshares (FFIN) to Underperform
- UPDATE: KeyBanc Upgrades VF Corp. (VFC) to Buy
Create E-mail Alert Related CategoriesDowngrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!