Needham & Company Raises Numbers on Cree (NASDAQ: CREE); Demand Rebound Should Support Higher Share Price
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Price: $79.12 --0%
Rating Summary:
9 Buy, 22 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 22 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Cree (NASDAQ: CREE) price target raised from $27 to $32.
ANalyst, Y. Edwin Mok. said, "We believe LED sector fundamentals have bottomed as BLU demand rebounded, utilization rates improved and price declines eased. We believe CREE stands to benefit from these trend improvements, and we anticipate growing optimism in the out years as wide adoption of LED for general lighting accelerates. While the stock has had strong moves YTD, we see more upside as positive datapoints should translate into higher estimates and multiples."
(Raises FY13 EPS estimate from $1.27 to $1.32)
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 $27.43 yesterday.
ANalyst, Y. Edwin Mok. said, "We believe LED sector fundamentals have bottomed as BLU demand rebounded, utilization rates improved and price declines eased. We believe CREE stands to benefit from these trend improvements, and we anticipate growing optimism in the out years as wide adoption of LED for general lighting accelerates. While the stock has had strong moves YTD, we see more upside as positive datapoints should translate into higher estimates and multiples."
(Raises FY13 EPS estimate from $1.27 to $1.32)
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 $27.43 yesterday.
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