Maxim Group Reiterates Buy Rating, $38 PT on Cree

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In a report published Wednesday, Maxim Group reiterated its Buy rating and $38.00 price target on Cree (NASDAQ: CREE).Maxim Group noted, “In the face of revenue growth/margin concerns, CREE's FY4Q12 results and FY1Q13 guidance, in our view, set the stage for a recovery in FY13 with LED Lighting sales gaining momentum and gross margins on the rise. While we lower our FY13-FY14 estimates assuming gross margins stay

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