Cree results refute bear case on margins, says Sterne Agee After Cree reported stronger than expected Q2 results, Sterne Agee believes that the fact that the company's gross margins have risen four quarters in a row refutes bears who expect the company's margins to deteriorate as a result of competition from Asia. The firm maintains a Buy rating.
News For CREE From The Last 14 Days
Check below for free stories on CREE the last two weeks.
Acuity Brands upgraded to Buy from Neutral at Goldman Goldman Sachs upgraded Acuity Brands to Buy saying growth in the company's LED lighting business is averaging over two-times the industry. Goldman is bullish on LED lighting adoption and raised its price target for shares to $153 from $128. The firm coupled the upgrade of Acuity with a downgrade of Cree (CREE) to Neutral.
Cree downgraded to Neutral from Buy at Goldman Goldman Sachs downgraded Cree (CREE) to Neutral citing slowing growth in the company's chip business. Goldman lowered its price target for Cree shares to $48 and $60 and prefers Acuity Brands (AYI) as an LED lighting investment. Shares of Cree closed Friday down 57c to $42.67. Goldman upgraded Acuity Brands this morning to Buy.