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Morgan Stanley Downgrades Cree To Underweight (CREE)
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Morgan Stanley Downgrades Cree To Underweight (CREE)
Morgan Stanley downgraded Cree Inc (NASDAQ:CREE) to underweight from equal-weight, and maintained its $36 target price for the stock.The company is down 40% since July of 2010, after four straight disappointments in earnings or guidance. The bank sees lower ASPs, lower gross margins, and lower market share for the company offsetting strong industry volume growth in LED lighting.Cree has a potential upside of 26.8% based on a current price of $45.68 and an average consensus analyst price target of $57.90.
Video Length: 0
Date Found: April 05, 2011
Date Produced: April 05, 2011
View Count: 0
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