JPMorgan Downgrades Cree (CREE) to Underweight
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JPMorgan analyst Paul Coster downgraded Cree (NASDAQ: CREE) from Neutral to Underweight with a price target of $35.00.
The analyst cites the valuation for the downgrade and notes it is not a call to short the name but more of intermediate term call on likely underperformance relative to his coverage universe.
Shares of Cree closed at $45.96 yesterday.
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