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Fly News Breaks for April 6, 2016
CREE
Apr 6, 2016 | 09:27 EDT
Stephens analyst Harsh Kumar remains a buyer of Cree despite "disappointing" preliminary March quarter results update, as he believes the majority of the shortfall is short term in nature. While the company did not provide specific June guidance, it expects its Lighting business to grow, the analyst tells investors in a research note. Kumar reiterates an Outperform rating and $40 price target on the shares.
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