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Fly News Breaks for November 5, 2015
CREE
Nov 5, 2015 | 19:09 EDT
Goldman analysts Brian Lee and Hank Elder downgraded Cree to Sell from Neutral with a $21 price target, saying they see 22% downside in the stock. The analysts noted that Cree faces deterioration in growth and margins with its LED chip business, as well as moderating growth with its lighting business. They added that the likelihood of M&A for Cree may be overstated.
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