Cree downgraded to Hold from Buy at Canaccord Canaccord downgraded Cree based on expectations for slowing gross margin expansion and an increased lighting systems-centric business model, which is not factored in to consensus expectations. Price target lowered to $32 from $38.
News For CREE From The Last 14 Days
Check below for free stories on CREE the last two weeks.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: AVG Technologies (AVG) downgraded to Neutral from Buy at Goldman... Cigna (CI) downgraded to Hold from Buy at Jefferies... Cree (CREE) downgraded to Neutral from Buy at Sterne Agee... Melco Crown (MPEL) downgraded to Neutral from Buy at UBS... SolarCity (SCTY) downgraded to Neutral from Buy at Roth Capital... KB Home (KBH) downgraded to Market Perform from Outperform at Raymond James... Ryland Group (RYL) downgraded to Underperform from Market Perform at Raymond James... Alere (ALR) downgraded to Hold from Buy at Craig-Hallum... Evolution Petroleum (EPM) downgraded to Hold from Buy at MLV Equity... Oil States (OIS) downgraded to Hold from Buy at BB&T... VIVUS (VVUS) downgraded to Neutral from Buy at Lazard Capital.
Cree downgraded at Sterne Agee As previously reported, Sterne Agee downgraded Cree to Neutral from Buy. The firm's checks indicate Philips Lighting North America has been aggressive in its marketing efforts forcing agents to choose between Philips and Cree lighting products. The analyst believes this will result in increased disruptions for Cree and lowered its price target to $59 from $66.