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Fly News Breaks for January 23, 2018
CREE
Jan 23, 2018 | 12:58 EDT
Tigress Financial analyst Ivan Feinseth downgraded Cree to Neutral from Strong Buy saying the stock is fairly valued following the recent rally. Further, increasing competition in the LED market and rising spending needs will make it harder for Cree to generate a positive return on capital in the near future, Feinseth tells investors in a research note. The analyst believes the turnaround at Cree and the benefits from the Wolfspeed acquisition "will take some time."
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