JPMorgan Downgrades Cree (CREE) to Underweight

JPMorgan analyst Paul Coster downgraded Cree (NASDAQ: CREE) from Neutral to Underweight with a price target of $35.00.

The analyst cites the valuation for the downgrade and notes it is not a call to short the name but more of intermediate term call on likely underperformance relative to his coverage universe.

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 $45.96 yesterday.

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