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Fly News Breaks for February 9, 2017
IFNNY, CREE
Feb 9, 2017 | 08:43 EDT
Roth Capital analyst Craig Irwin expects shares of Cree (CREE) to be near-term weak after the company announced CFIUS impediments for closing the sale of Wolfspeed to Infineon (IFNNY). The analyst believes that originally there were additional bidders for the Wolfspeed assets, albeit with lower final offers, allowing resumption of the sale process with an alternate. Irwin would be a buyer on volatility driven by short-term uncertainty. He reiterates a Buy rating and $34 price target on the shares.
News For CREE;IFNNY From the Last 2 Days
