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Fly News Breaks for March 7, 2016
CREE
Mar 7, 2016 | 07:36 EDT
Canaccord noted Cree has already taken steps to restructure its LED business and suspects it may need to take more. The firm sees Street expectations as too high given the perpetual oversupply situation in components and relatively limited competitive position as a lighting company. Canaccord maintained its Hold rating and lowered its price target to $24 from $26 on Cree shares.
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