Jefferies Has Buy On Cree

Jefferies & Co. is out with a research report on Cree, Inc. CREE and it has a Buy rating and a $40 price target on shares. In a note to clients, Jefferies & Co. writes, "We marketed with CREE senior management this week. The top investor concerns appear to be: 1) was the price paid for Ruud too high, 2) how will the company manage channel conflicts as it competes with customers, and 3) how does the margin of CREE change." Shares of CREE closed at $29.48 yesterday.