Deutsche Bank Starts Cree (CREE) at Buy; Pioneering the LED Lighting Era
Tweet Send to a Friend
Get Alerts CREE Hot Sheet
Price: $60.68 +0.45%
Rating Summary:
14 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
14 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade CREE Now!
Deutsche Bank initiates coverage on Cree (NASDAQ: CREE) with a Buy. PT $40.00.
Deutsche analyst said, "Cree remains well positioned to gain share in the fast growing LED lighting segment due to its relatively robust IP portfolio and strong cost leadership position. Rapid price declines and improved economics remain the main driver for general lighting rise. We expect the general lighting LED market to increase by 10x over the next 5 years as accelerated cost reductions and ongoing government incentives make LEDs attractive for general lighting applications. Although lead times in the near term continue to remain short (~4 weeks) and overall visibility remains limited, we believe these concerns are largely priced into shares.
For more ratings news on Cree click here and for the rating history of Cree click here.
Shares of Cree closed at $32.83 yesterday, with a 52 week range of $26.60-$72.47.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Deutsche analyst said, "Cree remains well positioned to gain share in the fast growing LED lighting segment due to its relatively robust IP portfolio and strong cost leadership position. Rapid price declines and improved economics remain the main driver for general lighting rise. We expect the general lighting LED market to increase by 10x over the next 5 years as accelerated cost reductions and ongoing government incentives make LEDs attractive for general lighting applications. Although lead times in the near term continue to remain short (~4 weeks) and overall visibility remains limited, we believe these concerns are largely priced into shares.
For more ratings news on Cree click here and for the rating history of Cree click here.
Shares of Cree closed at $32.83 yesterday, with a 52 week range of $26.60-$72.47.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Sterne Agee Upgrades Cree (CREE) to Buy
- Topeka Capital Starts Diodes (DIOD) at Buy
- Topeka Capital Starts CEVA Inc. (CEVA) at Buy
Create E-mail Alert Related Categories
Hot New Coverage, New CoverageRelated Entities
Deutsche Bank
Login with Facebook
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!
