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Fly News Breaks for February 22, 2016
CREE
Feb 22, 2016 | 05:38 EDT
Piper Jaffray analyst Mike Ritzenthaler upgraded Cree to Overweight after his firm's channel checks with lighting distributors indicated solid volume growth in the order books for 2016. Cree's components business restructuring positions it to post gross margins in the mid-30% range, Ritzenthaler tells investors in a research note. He raised his price target for the shares to $37 from $27.
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