Maxim Group Initiates LED Industry Coverage: Cree, Aixtron SE, Veeco Instruments
Maxim Group initiated coverage on the LED industry with a Buy rating and $45 price target on Cree (NASDAQ: CREE) and Sell ratings for both Aixtron SE (NASDAQ: AIXG) and Veeco Instruments (NASDAQ: VECO).
In the report, Maxim Group highlighted Cree, stating that "Perfectly positioned to ride the coattails of the burgeoning non-residential general lighting market just as the cost benefits of 150mm kick in, we believe CREE's margins and stock have bottomed ahead of a likely three-year period of strong earnings growth."
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.