Market Overview

UPDATE: Deutsche Bank Raises PT on Cree on New Key Product; Revised Outlook

Related CREE
30 Stocks Moving In Monday's Pre-Market Session
30 Stocks Moving In Monday's Pre-Market Session
Game Plan For The Week - Cramer's Mad Money (12/8/17) (Seeking Alpha)

In a report published Tuesday, Deutsche Bank maintained its Hold rating on Cree (NASDAQ: CREE) and increases price target from $36 to $41.

Deutsche Bank reported that, “We think this is a very strong growth opportunity for CREE. In 2012, US consumers purchased over 4 billion lightbulbs (of which a majority were 40 or 60-watts). We believe this represents over a $14 billion revenue opportunity (assuming 50% price to the company from retail prices and 60% penetration) as the company expects to initially focus on the N. American market before expanding globally. We should expect to see higher revenue contribution in 2014; as of Jan 2014, the new phaseout of incandescent bulbs will apply to 60 and 40 watt bulbs as well."

Cree's shares closed at about $44.72 on Monday.

Latest Ratings for CREE

Oct 2017Williams CapitalDowngradesHoldSell
Oct 2017Bank of AmericaMaintainsNeutral
Oct 2017JP MorganDowngradesNeutralUnderweight

View More Analyst Ratings for CREE
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


Related Articles (CREE)

View Comments and Join the Discussion!

Partner Center