KeyBanc Reiterates a 'Buy' on Cree (CREE); Raises PT & Estimates
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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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KeyBanc reiterates a 'Buy' on Cree (NASDAQ: CREE) price target raised from $33 to $37.
Analyst, Carter B. Shoop, said, "We believe Cree, Inc. will report in line with the Street and provide in line guidance when it releases fiscal 3Q12 results Tuesday. We believe this will support our thesis that the LED cycle is bottoming and that Cree has a differentiated and defensible business model. With improving fundamentals and compelling new product launches for LEDs and fixtures (cutting the cost in half for both), look for investor sentiment to shift from: 1) fearing Cree could be a casualty of the LED industry commoditizing; to 2) viewing Cree as the best way to play the massive upgrade cycle in LED lighting."
KeyBanc raised 4Q12 EPS by $0.02 to $0.28 and FY13 from $1.25 to $1.50.
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 $31.20 yesterday.
Analyst, Carter B. Shoop, said, "We believe Cree, Inc. will report in line with the Street and provide in line guidance when it releases fiscal 3Q12 results Tuesday. We believe this will support our thesis that the LED cycle is bottoming and that Cree has a differentiated and defensible business model. With improving fundamentals and compelling new product launches for LEDs and fixtures (cutting the cost in half for both), look for investor sentiment to shift from: 1) fearing Cree could be a casualty of the LED industry commoditizing; to 2) viewing Cree as the best way to play the massive upgrade cycle in LED lighting."
KeyBanc raised 4Q12 EPS by $0.02 to $0.28 and FY13 from $1.25 to $1.50.
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 $31.20 yesterday.
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