Cree CREE announced a new product at its C2Q10 conference call. Its new CR6 recessed fixture down-light will retail for $50 at Home Depot HD.
JP Morgan analysts Christopher Blansett and Brian Lee said, "A standard non-dimmable CFL remains the lowest CoO for the homeowner, Assuming no expense is incurred for bulb replacement. We estimate a Cree CR6 has an 18% higher overall CoO than a standard, non-dimmable CFL while achieving an 11% lower CoO versus dimmable CFLs. Compared to an incandescent bulb, the Cree CR6 product has a 66% lower CoO."
Cree is rated Overweight with a price target of $77.00.
Shares of CREE are currently trading at $56.60.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsBrian LeeChristopher BlansettConsumer DiscretionaryHome Improvement RetailInformation TechnologyJP MorganSemiconductors
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