Merriman Curhan Ford is upgrading Cree Inc (CREE) from Neutral to Buy this morning, saying the LED outlook is getting brighter.
Hat tip to StreetInsider.com for the following analyst comment:
“Cree recently raised its June quarter outlook and we believe the company could meet or exceed the high end of its recently revised guidance. LEDs are rapidly replacing CCFLs in TV backlighting and quickly gaining acceptance in the general lighting market that is benefiting Cree … Read the rest
Yesterday in the Washington Post, General Electric (GE) CEO Jeff Immelt and famed venture capitalist John Doerr wrote an op ed piece highlighting the failure of the US to take the lead in green energy and the emergence of China as the leader.
Some interesting facts:
– China cars are 35% more fuel efficient
– they spend 10x what the US does as a % of GDP on green energy
– China on track to … Read the rest
Canaccord Adams has downgraded Rubicon Technology (RBCN) from Speculative Buy to Hold but increased the price target to $11 following earnings
Hat tip to StreetInsider.com for the following analyst comments:
“While we continue to find Rubicon an attractive way for investors to gain exposure to the exciting LED industry, we feel that a lack of near-term catalysts, visibility into pricing,
capacity expansion and relatively rich valuation cause us to step to the sidelines. We would … Read the rest
Energy Focus, Inc just announced that it has signed a $1.4 million contract with the US Navy. Under the contract, Energy Focus will develop, produce and supply LED lighting fixtures to be used on Virginia Class attack submarines. The lights will replace existing fluorescent tube lights used in submarines and must meet strict standards set by the Navy.
In a press release, executives from Energy Focus commented on the contract:
“We feel confident that … Read the rest
Rubicon Technology (RBCN), which makes components for LED’s, swung to a loss in the 2nd quarter vs a profit in the year ago quarter of .12/share. While the company did beat expectations for revenue and EPS by reporting an EPS loss of .15 and revenues of $3.2 million, this is a company that continues to struggle after showing some promise last year. You certainly wouldn’t know it by its stock price! I suppose on the … Read the rest
I missed this earlier this morning which certainly helped push the stock significantly higher for the 2nd day in a row. Canaccord Adams upgraded Cree Inc (CREE) from Sell to Hold and raised the price target from $17 to $29.
Hat tip to StreetInsider.com for the following analyst comment.
“Our sources in the supply chain indicate that Cree is likely to see better margins this quarter, and we expect the company could likely beat the … Read the rest
Cree just announced that its LED lights have been used to illuminate North Carolina’s first LEED-certified McDonald’s franchise. The store, which was rebuilt to achieve LEED gold certification, expects to have the certification confirmed by October.
CREE’s LED lights make up 97% of the lighting system in the building, which uses a whopping 78% less energy that conventional lighting. The building is also designed with skylights to allow natural light to enter the store, and … Read the rest
Morgan Joseph has initiated coverage on Cree Inc (CREE) this morning with Hold saying the stock is fairly valued at current levels. The firm believes Cree is the best play on LED’s and is gaining market share of 1-2% per year while its largest competitor, Nichia, continues to lose share. They don’t believe LED’s are a fad, but rather a long term growth story. The other publicly traded LED play to keep an eye on … Read the rest
Cree Inc (CREE) has been on fire over the past several months and clearly emerging as a leader in the LED space. Today they announced the first commercially available water resistant LEDs for outdoor video screens. Previously, LED’s screens had to be protected from the elements, costing customers time and money so the encapsulation at the LED level is a big improvement. The red-green-blue LED has an IPx5 rating indicating it’s protected from low … Read the rest
Cree Inc (CREE) continues to trend up along that 50 day moving average and will get another nice pop up in the morning after the company came out after the bell and raised guidance due to stronger LED demand for both lighting and notebook computers. For the 4th quarter ending June 28th, the company now targets revenue in the range of $143 – $150 million and non GAAP earnings of .15 – .17/share. On their … Read the rest