Deutsche Bank analyst Sidney Ho lowered his price target for Cree to $42 following yesterday's Q1 results and keeps a Hold rating on the name. While Cree continues to make solid progress with its Wolfspeed business and the LED/Lighting businesses surprised to the upside, the enacted tariffs are having an incremental negative impact on earnings, Ho tells investors in a post-earnings research note. Further, the analyst believes the company's revenues will likely be impacted by softer demand. Ho says uncertainties around tariffs keep him on the sideline with respect to the shares.