Market Overview

Wedbush Reiterates Outperform on Cree on Expected Strong 1Q14 Results

Related CREE
Cree's Q3 Miss Highlights Lighting Segment's Challenging Recovery
Analysts Staying On The Sidelines On Cree Until Sales Return To 20% Growth

In a report published Friday, Wedbush analyst Craig Irwin reiterated an Outperform rating and $83.00 price target on Cree (NASDAQ: CREE).

In the report, Wedbush noted, “We expect margin gains in Cree's LED A-lamps and growth in the LED Lighting Fixtures market to drive strong 1Q14 results. We are forecasting 1Q14 rev/adj. EPS of $395m/$0.40 versus consensus of $392.3m and $0.39. We are forecasting 1Q14 margins of 39.1%, modestly above the consensus of 38.9%. Our checks suggests market level LED lighting fixtures growth rates remain above 120%, so the 34% Y/Y Lighting Products growth we forecast should be achievable.”

Cree closed on Thursday at $72.82.

Latest Ratings for CREE

Oct 2016Stephens & Co.DowngradesOverweightEqual-Weight
Sep 2016Williams CapitalInitiates Coverage onBuy
Sep 2016Canaccord GenuityAssumesHold

View More Analyst Ratings for CREE
View the Latest Analyst Ratings

Posted-In: Craig Irwin WedbushAnalyst Color Reiteration Analyst Ratings


Related Articles (CREE)

View Comments and Join the Discussion!