UBS downgraded Cree, Inc. (CREE) from Buy to Neutral and cut the price target from $83 to $64. Hat tip to Street Insider for the analyst notes.
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UBS analyst’s highlighted points include: 1) Near term concern from demand air-pocket in consumer electronics LEDs; 2) But general lighting LED opportunity still showing signs of strong growth; and 3) Lowering estimates to account for less spot market sales … Read the rest
At least two analysts remain bullish on Cree Inc (CREE) following their earnings results last night. Hat tip to Street Insider for the analyst comments.
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Piper Jaffray reiterates an Overweight rating and $88 price target.
“Although initial investor reaction is one of disappointment that Cree’s Sept ’10 revenue guidance ($270-$280m) was below consensus of $284m, we remain encouraged that its core lighting business will continue double … Read the rest
Cree, Inc. (CREE) reported results after the bell today that were a touch better than analyst estimates. The EPS came in at .55 vs the analyst estimate of .51 on revenues of $265 million vs the analyst estimate of $264 million. While those are record numbers and represent growth both sequentially and quarter over quarter, traders always want to what guidance will be especially when a stock is run so far so fast. I’ve said … Read the rest
Merriman Curhan Ford is out this morning maintaining its Neutral rating on Cree Inc (CREE). Hat tip to Street Insider for the analyst comment:
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“We expect Cree to report June quarter upside when it reports F4Q10 earnings on August 10. While strong end market general lighting demand will likely drive revenue upside, we believe its near-peak 48% gross margin levels are unlikely to be sustainable with increasing … Read the rest
Piper Jaffray was out with some rating changes/coverage of LED lighting stocks after the bell today. Hat tip to Street Insider for the following analyst comments….
Initiated Cree Inc (CREE) at Overweight with $88 price target. They believe Cree is the leading LED play and that the recent pull back offers an attractive entry point. To that I say it’s up 20% in two weeks.. would have been an attractive entry point at the beginning … Read the rest
Cree Inc just announced that it has signed an LED patent cross-license agreement with Koninklijke Philips Electronics NV.
The agreement is worldwide and covers a range of LED technologies including blue LED chip technology, white LEDs and phosphors. It also covers associated technologies such as control systems, LED luminaires and lamps, and LED backlighting for LCD screens.
In a press release, Chuck Swoboda, Cree chairman and CEO, commented on the agreement:
“This agreement demonstrates … Read the rest
CBS News did a story tonight on the led lighting revolution as the incandescent bulb nears extinction. Here are some facts presented in the story..
– Americans consume double the amount of electricity than someone in Great Britain and nearly 6x than someone in China
– We’re increasing our energy use by 30% per year (this number seems hard to believe!)
– 22% of our electricity use comes from lighting
– 95% of the … Read the rest
Needham & Company has initiated coverage on Comverge (COMV) with a Buy rating and $14 price target. Shares of COMV could use a boost. They remain in a down trend and there is resistance all the way up to the 11.15 level of the 200 day moving average. Hat tip to Street Insider for the following analyst comment:
“Overall, we view Comverge’s strong presence in US residential demand response (along with its building presence in … Read the rest
This morning Morgan Joseph reiterated its Buy rating again on Cree Inc (CREE) just as they did in April and maintains its $100 price target (about a 50% jump from current levels). Hat tip to Street Insider for the following analyst comment.
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“With shares trading at approximately 21x our CY2011E EPS of $2.60, excluding $9.10 in current cash per share, we believe CREE is undervalued. We … Read the rest
Ardour Capital upgraded GT Solar (SOLR) from Hold to Buy and increased price target from $6 to $7.20. Shares are up nearly 5% today, but holding below what is now resistance of the 200 day moving average. Get a FREE SOLR Trend Analysis
Sidoti upgraded Cree Inc (CREE) from Neutral to Buy and has a $90 price target. Shares are up 8% and pushing back above support at the 50 day moving average and possibly … Read the rest