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Susquehanna Gets Bullish on Cree

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Benzinga's M&A Chatter for Thursday July 14, 2016
Mid-Afternoon Market Update: Crude Oil Up 2%; Cree Shares Spike Higher

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.

Latest Ratings for CREE

DateFirmActionFromTo
Jul 2016Deutsche BankMaintainsHold
May 2016Pacific CrestInitiates Coverage onSector Perform
Apr 2016Cowen & CompanyMaintainsMarket Perform

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