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Fly News Breaks for August 27, 2019
CREE
Aug 27, 2019 | 07:09 EDT
JPMorgan analyst Paul Coster upgraded Cree to Neutral from Underweight with an unchanged price target of $45. The shares have fallen 26% since the company's "lackluster" fiscal Q4 results on August 20, Coster tells investors in a research note. The analyst believes Cree is now trading close to fair value. The risks are balanced, and the stock should trade in line with peers over the next 6-12 months, Coster contends.
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