GARP Research Maintains a 'Buy' on Cree (CREE); Q3 Revealed Some Encouraging Data Points
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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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GARP Research maintains a 'Buy' on Cree (NASDAQ: CREE) price target of $30.00.
Analyst, Seth Dadds, said, "Cree is on the cusp of a major new product cycle that should driv e doubledigit revenue and EPS growth over the next two years, in our view. The new products (XLamp XB-D, XT-E and XSP LED streetlights) are slashing payback periods, and prices are approaching parity with traditional lights in some cases. Importantly, the new products should be incrementally positive to gross margin. Shares trade at 11x our FY2014 EPS estimate, ex. $6/share cash. We feel this is cheap for a technology leader in an underpenetrated market which could triple over the next four years."
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 $30.12 yesterday.
Analyst, Seth Dadds, said, "Cree is on the cusp of a major new product cycle that should driv e doubledigit revenue and EPS growth over the next two years, in our view. The new products (XLamp XB-D, XT-E and XSP LED streetlights) are slashing payback periods, and prices are approaching parity with traditional lights in some cases. Importantly, the new products should be incrementally positive to gross margin. Shares trade at 11x our FY2014 EPS estimate, ex. $6/share cash. We feel this is cheap for a technology leader in an underpenetrated market which could triple over the next four years."
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 $30.12 yesterday.
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