The stock is stuck between $52-56. Last $55.48 up $1.53 on a day the NASDAQ is down over 1%.
There's no need to chase.
From Tech Trader Daily:
Cree: Morgan Keegan Upgrades; Sees Headwinds Dissipating
Cree (CREE) shares are getting a modest lift this morning from Morgan Keegan analyst Harsh Kumar, who raised his rating on the LED lighting company’s shares to Outperform from Market Perform. Kumar upped his price target on the stock to $75, from $48.
Kumar says factors that had created a headwind for the stock are all dissipating, including the establishment of Chinese standards for street lighting and excess inventory in the LCD TV sector....MORE