Bank of America Merrill Lynch is out with its report today on Cree CREE, maintaining Underperform.
In its report, Bank of America Merrill Lynch writes, "The company is reorienting from chips to highervalue
components and fixtures. Superior technology and lower cost of ownership suggest that LED adoption will occur as the world moves away from incandescent lighting. Although we deem LED adoption as a secular trend, we are concerned with the recent pause in demand growth/inventory build and wait for a better
opportunity to become more constructive."
Bank of America Merrill Lynch maintains a $33 PO on CREE.
At the time of posting, shares of CREE were trading pre-market at $28.70, up 1.34% from Monday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: Analyst ColorAnalyst RatingsBank of America Merrill LynchInformation TechnologySemiconductors
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in