Deutsche Bank Doesn't See Much More Near-Term Upside in Cree (CREE)

Deutsche Bank reiterated its Buy rating and $33 price target on Cree (NASDAQ: CREE) ahead March results, which they expected to be in-line. The firm said shares are already pricing in a lot of the near term good news.

The firm comments, "Although the much anticipated margin recovery could finally come through in the Jun Q, we believe the shares may already be pricing a lot of the near term good news. As such, even though we like the shares over the next 12-18 months, we believe the near term set-up into Mar Q earnings is not as positive."

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 $32.55 yesterday.

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