Market Overview

Susquehanna Says Cree LED's Preferred Over Competitors, Shares Rally 3+%

Share:
Related CREE
Stocks Hitting 52-Week Lows
Cree Has 'More Challenges' Ahead, Says Needham

Earlier positive comments from Susquehanna analyst Mehdi Hosseini seem to be driving Cree (NASDAQ: CREE) shares up over 3.5 percent at last check.

According to Hosseini's Home Depot (NYSE: HD) survey, Cree's brand of LED light bulbs are being purchased more frequently compared to other store offerings.

Hosseini expects more LED manufacturers to offer sub-$10 bulbs later this year, with the average price of 60W LED bulbs down 3 percent in the last two weeks.

Susquehanna rates CREE at positive with a $72 PT.

CREE shares have climbed 3.77 percent to $65.30 at last check.

Latest Ratings for CREE

DateFirmActionFromTo
Apr 2015Deutsche BankMaintainsHold
Oct 2014Bank of AmericaUpgradesUnderperformNeutral
Oct 2014Bank of AmericaMaintainsUnderperform

View More Analyst Ratings for CREE
View the Latest Analyst Ratings

Posted-In: Analyst Color Analyst Ratings Movers

 

Related Articles (CREE + HD)

Around the Web, We're Loving...

Get Benzinga's Newsletters