Susquehanna Gets Bullish on Cree
Susquehanna expects Cree (NASDAQ: CREE) to report third quarter results at the high end of the company's forecasts
Analyst Mehdi Hosseini's recent channel checks show better-than-expected trends in Cree's LED component business.
LED bulb prices should be in the $0.18 to $0.20 per watt range based on the company's announcement introducing 100 watt bulbs with average selling price of $20, the analyst said.
Shares of Cree are up only 2.5 percent after gaining as much as 5.6 percent earlier in the session. Thursday's volume has been the heaviest in a month.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.