Goldman Sachs Starts Cree (CREE) at Buy

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Goldman Sachs initiates coverage on Cree (NASDAQ: CREE) with a Buy rating and $40 price target, suggesting 36% upside.

The firm is calling CREE the best LED buy idea.

Goldman sees Cree as a structural winner where "1) superior technology drives better leverage to lighting vs. scale-driven, commoditized rivals and (2) margins are underappreciated in Street numbers."

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 $26.72 yesterday, with a 52 week range of $23.03-$72.47.

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