AmTech Comments on Cree (CREE) Speculation; Says IBM Rumors Makes No Sense, LG May Be Plausible
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American Technology Research analyst Andrew Huang commented on recent speculation on Cree (Nasdaq: CREE).
The firm notes that over the past few days, there have been two bits of speculation circulating related to Cree:
1. One suggests that IBM will acquire Cree. This rumor resurfaces at least once a quarter, and in the firm's opinion, makes absolutely no sense.
2. The other, which appeared in an article in the Korea Times over the weekend, is that LG Display, the world's second largest supplier of LCD panels, will set up a joint venture with Cree in China. Although this is plausible, the firm believes it is unlikely true.
Huang does not think it would make sense for Cree to partner exclusively with LG Display (the #2 panel manufacturer in the world) alone and risk losing potential business with Samsung (#1), AUO (#3), and CMO (#4). A non-exclusive, strategic partnership between Cree and LG Display would make more sense.
The firm is reiterating their Buy rating on Cree.
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