OEMs Yet to Respond to Cree (CREE) Sub-$10 LED Bulbs

Pricing remained unchanged in LED consumer bulbs and Cree (NASDAQ: CREE) has yet to see a competitive response from major lighting OEMs to its sub-$10 price point, noted a report today by Goldman Sachs. In analyst Brian Lee's view, Cree's LED replacement bulb for the dimmable, 40W application compares favorably to competing brands currently offered at Home Depot and Lowes both in terms of price and efficiency.

"Cree continues to offer the most efficient and lowest priced consumer LED bulbs based on current selling prices at Home Depot and Lowe's. To date, no major lighting OEMs have introduced a competing product at a similar $10 price point," said Lee.

Shares of Cree are lower by 1.2% intra-day on Tuesday, but the stock continues to hold onto year-to-date gains of over 80%.

Goldman Sachs has a Buy rating on Cree with a price target of $60.00

For an analyst ratings summary and ratings history on Cree (NASDAQ: CREE) click here. For more ratings news on Cree click here.

Shares of Cree closed at $63.53 yesterday.

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