Market Overview

UPDATE: Goldman Sachs Raises PT on Cree on LED Bulb Opportunity Interest

Share:

In a report published Wednesday, Goldman Sachs analyst Brian Lee reiterated a Buy rating on Cree (NASDAQ: CREE), and raised the price target from $60.00 to $73.00.

In the report, Goldman Sachs noted, “Since launching in March, we believe Cree's consumer LED bulbs have experienced better-than-expected sales based on our channel checks at Home Depot, particularly for the 60W version. Additionally, feedback from investors suggests interest in Cree's LED bulb opportunity is high, though overall sentiment remains divided, in our view. With a US phase-out of 40W and 60W incandescent bulbs – the largest volume lighting category – starting in 2014, our sensitivity analysis suggests potential for medium-term sales and EPS upside for Cree and we raise our CY14-CY15 estimates.”

Cree closed on Tuesday at $64.20.

Latest Ratings for CREE

DateFirmActionFromTo
Oct 2020Piper SandlerMaintainsNeutral
Aug 2020Canaccord GenuityMaintainsBuy
Aug 2020Roth CapitalDowngradesBuyNeutral

View More Analyst Ratings for CREE
View the Latest Analyst Ratings

 

Related Articles (CREE)

View Comments and Join the Discussion!

Posted-In: Brian Lee Goldman SachsAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
FBJP MorganMaintains315.0
AMDCitigroupMaintains13.0
RPTXNorthland Capital MarketsInitiates Coverage On
PCSACraig-HallumInitiates Coverage On12.0
ENPHCraig-HallumDowngrades105.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com