Cree price target lowered to $64 from $77 at Canaccord Canaccord lowered its price target on Cree to $64 from $77 following its disappointing Q4 results. The firm maintained its Buy rating on the shares as they believe LED demand will eventually outstrip supply and favorable margins and a captive/merchant opportunity will be realized.
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.