Cree (CREE) shares are getting a modest lift today from a pair of upbeat notes on the LED lighting company.
- Gabelli & Co. analyst Hendi Susanto this morning launched coverage of Cree with a Buy rating and a price target of $100 a share. “We believe the secular growth of the LED industry combined with the company’s new capacity expansion, projected earnings growth and consistent execution on cost reduction will result in continued earnings upside,” he writes. Susanto projects EPS of $1.35 this year, $2.20 next year and $2.85 the year after that....MORE
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