Piper Jaffray Boosts Target on Cree (CREE) from $30 to $40

Shares of Cree (NASDAQ: CREE) are indicated for a higher open Monday morning following a boosted price target from Piper Jaffray's Ahmar Zaman. The analyst now sees Cree shares rising to $40 over the next year, up about 33 percent from a prior price target of $30. Zaman maintains an Overweight rating on Cree shares.

With the stock up 0.75 percent to $31.87 at last check, Zaman's new price target represents potential upside of about 26 percent.

For an analyst ratings summary and ratings history on Cree click here. For more ratings news on Cree click here.

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