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Fly News Breaks for February 29, 2016
CREE
Feb 29, 2016 | 09:22 EDT
Stephens analyst Harsh Kumar thinks CREE is misunderstood, as he believes most investors still see it as an LED business though the company is transitioning into a Lighting company that will have more stable gross margins and faster growth. The analyst, who adds that becoming a Lighting business may result in better cash flows, reiterates an Overweight rating and $40 price target on CREE shares.
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