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Fly News Breaks for January 31, 2019
CREE
Jan 31, 2019 | 08:18 EDT
Oppenheimer analyst Colin Rusch raised his price target for Cree to $59 from $53 as he sees lower risk to 2020 estimates due to strong SiC demand and improved operational performance. The analyst believes Cree remains supply constrained through at least 2020 for its SiC materials even as it doubles capacity, continues to see significant growth in EV demand, particularly in China, and believes the U.S. and EU will hit tipping points for growth in 2021 and 2022. Rusch reiterates an Outperform rating on the shares.
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