Deutsche Bank Starts Cree (CREE) at Buy; Pioneering the LED Lighting Era

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Deutsche Bank Starts Hochtief AG (HOT:GR) (HOCFF) at Hold
• VICI Properties closes $1.75B senior unsecured notes offering
• Deutsche Bank Upgrades Entegris Inc (ENTG) to Buy