Jefferies Cuts Numbers on Cree (CREE) After Q4
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Price: $79.12 --0%
Rating Summary:
9 Buy, 22 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 21 | New: 35
Rating Summary:
9 Buy, 22 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 21 | New: 35
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Jefferies cut estimates and its price target on Cree (NASDAQ: CREE) from $35 to $30 but kept its Buy rating following fourth quarter results.
The firm comments, "Indoor/outdoor LED lighting growth remains strong. The disruptive agency transition from Rudd acquisition is complete and momentum has returned. The company targets significant lighting growth through F13 citing good customer payback period under 2 years. While the LED component division has improved, it continues to drag on growth."
Q1 EPS goes from $0.37 to $0.24 and FY13 from $1.75 to $1.29.
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 $26.34 yesterday.
The firm comments, "Indoor/outdoor LED lighting growth remains strong. The disruptive agency transition from Rudd acquisition is complete and momentum has returned. The company targets significant lighting growth through F13 citing good customer payback period under 2 years. While the LED component division has improved, it continues to drag on growth."
Q1 EPS goes from $0.37 to $0.24 and FY13 from $1.75 to $1.29.
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 $26.34 yesterday.
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