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Fly News Breaks for April 6, 2016
CREE
Apr 6, 2016 | 07:41 EDT
Canaccord said Cree's lack of an agent distribution channel could be exacerbating its earnings shortfall. The firm noted the Lighting business was the company's growth driver, which makes its Q3 miss all the more painful as the divergence between its margins and the rest of the industry suggests the potential for more downside. Canaccord maintained its Hold rating and lowered its price target to $20 from $24 on Cree shares.
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