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Fly News Breaks for January 23, 2018
CREE
Jan 23, 2018 | 08:46 EDT
As previously reported, Roth Capital analyst Craig Irwin downgraded Cree to Neutral from Buy, with a $35 price target, saying the company will generate a larger portion of FY18 gross margins from SiC wafer sales, where the entry of new wafer suppliers will introduce 2H18 pricing pressure. The analyst continues to see the addressable SiC device market as a multiple of that estimated by third party industry analysts.
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