Cree Inc (CREE) Surging On Bullish Analyst Calls

Posted by | # |
10:03:18 am on November 24, 2010

Cree Inc (CREE) has had quite a run off the bottom in recent weeks and the run continues this morning with the stock up about another 7% on a few bullish calls. 

Morgan Keegan upgraded the stock from Market Perform to Outperform and raised the price target from just $48 to $75 a few days ago.  They said the headwinds are dissipating and than the supply/demand balance will be gone by the end of this year.  This morning the firm has added the company to its Focus List

==> Click Here For Your FREE Daily Cree Technical Analysis Report

Oppenheimer is bullish too.  The firm published a research note this morning saying that they believe the elements for a very strong 2011 are falling into place due to a pick up China street lighting, next gen LED and LED panels picking up after Chinese New Year.  They maintain their Outperform rating and $94 price target.

Shares of CREE are up over 20% over the past few weeks, but will soon approach resistance at the 200 day moving average.

Tags: , ,
 
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments  

No comments yet.

Leave a comment

(required)

(required)


*