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Fly News Breaks for June 27, 2018
CREE
Jun 27, 2018 | 08:13 EDT
Roth Capital analyst Craig Irwin raised his price target for Cree to $45 from $39 as he expects GT Advanced to become a "formidable" competitor in silicon carbide. Cree's largest issues over the past 20 years have come from direct competition with its customers, and it appears that could remain the case in silicon carbide given the operating structure at Wolfspeed, he adds. The analyst reiterates a Neutral rating on the shares.
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