Susquehanna Gets Bullish on Cree

Susquehanna expects 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.