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