A few analyst rating changes to tell you about today.
Bank of America (BAC) is maintaining its Buy rating on Cree Inc (CREE) and increased 2012 EPS estimates to $3.21 per share. Shares of CREE are holding the flat line today despite a healthy down day in the overall market.
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Morgan Joseph began coverage of Andersons (ANDE) with a Buy rating and $48 price target. … 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
Morgan Joseph is out reiterating its Buy rating on CREE after last night’s earnings report. They also maintain the price target of $100. Hat tip to Street Insider for the following analyst comment.
“Given solid execution and the stronger than expected LED business, we are again increasing our CY2010 revenue and non-GAAP EPS estimates to $1.05bn and $2.00, respectively, from $987mm and $1.88. We are also increasing our CY2011 revenue estimate to $1.34bn from $1.31bn, … Read the rest
The upgrades just keep coming for Cree Inc (CREE). Morgan Joseph upgraded the company from Neutral to Buy this morning and set a $100 price target. Hat tip to Street Insider for the following analyst comment:
“On Tuesday, after the close of trading, we expect Cree to announce F3Q10 sales and non-GAAP EPS of $220mm and $0.43, respectively, compared to Street expectations of approximately $223mm and $0.44, respectively. We expect LED sales to continue driving … Read the rest
Cree Inc (CREE) is holding up quite well despite a downgrade this morning from Morgan Joseph. The stock has been on a torrid run this year, so it’s not unusual for a few valuation downgrades to be issued. The firm downgraded CREE from Buy to Hold but raised estimates for this year and next. Hat tip to Street Insider for the following analyst comments.
“On Tuesday after the close of trading, we expect Cree to … 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