Goldman Sachs Says Cree (CREE) and Universal Displa (PANL) Will Outperform

Goldman Sachs issued some positive comments this morning on Cree, Inc. (Nasdaq: CREE) and Universal Display Corp. (Nasdaq: PANL), although the stocks are trading in opposite directions.

The firm said many LED and clean products/biochemicals stocks are appealing as their economics do not depend on policy, which should enable access to growth capital.

"LED stocks appear attractively valued relative to timing of new adoption cycles accelerating in 2012," the firm notes.

They see Buy-rated Cree and Universal Display outperforming. The firm initiated coverage of both stocks with a Buy rating on November 18th.

Shares of CREE are 3 percent in mid-day trading, while PANL is down 2 percent.

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