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CREE

Cree

$29.57

-0.24 (-0.81%)

05:38
10/06/17
10/06
05:38
10/06/17
05:38

Cree downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Paul Coster downgraded Cree to Underweight citing valuation. The stock's 36% rally since the resignation of CEO Swoboda "seems rational but premature," Coster tells investors in a research note. He recommends Cree as a "tactical short" saying the "reality of near-term earnings could deflate the multiple" post this quarter's report. The analyst raised his price target for the shares to $28 from $23.

CREE Cree
$29.57

-0.24 (-0.81%)

08/23/17
SPHN
08/23/17
DOWNGRADE
SPHN
Underweight
Cree downgraded to Underweight from Equal Weight at Stephens
08/23/17
08/23/17
DOWNGRADE
Target $16.5

Underweight
Cree downgraded to Underweight on valuation at Stephens
As previously reported, Stephens analyst Harsh Kumar downgraded Cree to Underweight from Equal Weight following the company's Q4 earnings report, noting that profitability for the core business remains under pressure. He also believes the new business levels for the Cree lighting business may represent a plateau and that the stock's current valuation is "unsustainable." Kumar cut his price target to $16.50 from $27.50 on Cree shares, which are down nearly 10% in pre-market trading to $20.85.
08/23/17
08/23/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ultragenyx (RARE) downgraded to Hold from Buy at SunTrust, with analyst Edward Nash slashing his price target to $55 from $105 after the company reported negative topline data from the Phase III trial for Ace-ER for GNE myopathy. Nash is disappointed by this first major clinical setback for the company and removed Ace-ER from his valuation models. 2. Duluth Holdings (DLTH) downgraded to Market Perform from Outperform at Raymond James, with analyst Dan Wewer citing increasing industry challenges. Wewer is concerned about increasing promotional activity and aggressive pricing tactics by competitors. 3. Cree (CREE) downgraded to Underweight from Equal Weight at Stephens. 4. Washington Prime (WPG) downgraded to Underperform from Neutral at Boenning & Scattergood by analyst Floris van Dijkum due to a more expensive NAV relative valuation caused by the more than 6% sector outperformance in the current quarter. 5. Baozun (BZUN) downgraded to Hold from Buy at Deutsche Bank by analyst Eileen Deng citing valuation after the stock's 18% rise in the past six months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/23/17
ROTH
08/23/17
NO CHANGE
Target $28
ROTH
Buy
Roth Capital remains a buyer of Cree on a potential Wolfspeed spinoff
Roth Capital analyst Craig Irwin notes that Cree reported essentially inline Q4 results, with Q1 guidance that primarily reflects increasing spend to support growth for Wolfspeed. The analyst reiterates a Buy rating on the shares for the significant value creation potential in a Wolfspeed spinoff, which would also allow increased focus on the core LED chips and components and lighting products businesses. Irwin also lowered his price target on the shares to $28 from $29.

TODAY'S FREE FLY STORIES

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ATRS

Antares Pharma

$2.18

0.06 (2.83%)

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SHIP

Seanergy Marine

$1.24

0.0199 (1.63%)

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HLI

Houlihan Lokey

$41.56

0.18 (0.43%)

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Breaking Syndicate news story on Houlihan Lokey »

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  • 24

    Oct

GEO

Geo Group

$26.20

0.2 (0.77%)

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Breaking Syndicate news story on Geo Group »

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  • 14

    Dec

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

, AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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  • 06

    Nov

KALV

KalVista

$11.26

1.99 (21.47%)

, DBVT

DBV Technologies

$48.07

0.92 (1.95%)

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On The Fly: After Hours Movers »

HIGHER: KalVista (KALV),…

KALV

KalVista

$11.26

1.99 (21.47%)

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

03/08/13
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IPCI

Intellipharmaceutics

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:21
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10/20
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Hot Stocks
DBV Technologies: PEPITES trial does not reach primary endpoint »

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WFC

Wells Fargo

$54.92

1.17 (2.18%)

17:08
10/20/17
10/20
17:08
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17:08
Periodicals
Regulator criticizes Wells Fargo over deceptive auto insurance program, NYT says »

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  • 22

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    Jan

ALIM

Alimera Sciences

17:01
10/20/17
10/20
17:01
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17:01
Syndicate
Alimera Sciences to sell $25M in shares in an 'at the market offering' »

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SYMC

Symantec

$32.66

0.33 (1.02%)

16:51
10/20/17
10/20
16:51
10/20/17
16:51
Syndicate
Breaking Syndicate news story on Symantec »

Symantec files to sell 1M…

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  • 01

    Nov

EBMT

Eagle Bancorp

$19.55

0.15 (0.77%)

16:44
10/20/17
10/20
16:44
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16:44
Hot Stocks
Breaking Hot Stocks news story on Eagle Bancorp »

EJF Capital reports 7%…

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KALV

KalVista

$11.26

1.99 (21.47%)

16:43
10/20/17
10/20
16:43
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16:43
Hot Stocks
Breaking Hot Stocks news story on KalVista »

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JAGX

Jaguar Health

$0.19

0.002 (1.08%)

16:41
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Syndicate
Breaking Syndicate news story on Jaguar Health »

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TSLA

Tesla

$345.10

-6.71 (-1.91%)

16:40
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Hot Stocks
Tesla amends 'warehouse agreements' to increase commitments to $1.1B »

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  • 01

    Nov

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SNV

Synovus

$47.30

0.54 (1.15%)

16:38
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Hot Stocks
Synovus CBO sells 10,000 common shares »

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  • 03

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GTXI

GTx

$7.92

0.1 (1.28%)

16:38
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Syndicate
Breaking Syndicate news story on GTx »

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ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

, BKMU

BankMutual

$10.80

0.55 (5.37%)

16:36
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Conference/Events
BankMutual to host special shareholder meeting »

Special Shareholder…

ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

BKMU

BankMutual

$10.80

0.55 (5.37%)

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  • 24

    Oct

CNXR

Connecture

$0.49

-0.01 (-2.00%)

16:35
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Breaking Hot Stocks news story on Connecture »

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GE

General Electric

$23.83

0.25 (1.06%)

, PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

16:31
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General news
On The Fly: Top stock stories for Friday »

Stocks opened sharply…

GE

General Electric

$23.83

0.25 (1.06%)

PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

CELG

Celgene

$121.33

-14.63 (-10.76%)

SNCR

Synchronoss

$11.39

-0.12 (-1.04%)

IL

Bought by SNCR

SKX

Skechers

$33.99

9.96 (41.45%)

PYPL

PayPal

$70.97

3.72 (5.53%)

NCR

NCR Corp.

$33.05

-4 (-10.80%)

LHO

LaSalle Hotel

$28.52

-1.94 (-6.37%)

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  • 20

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16:30
10/20/17
10/20
16:30
10/20/17
16:30
Options
Preliminary option volume of 22.9M today »

Preliminary option volume…

MKL

Markel

$1,078.23

14.88 (1.40%)

, SNC

State National

$21.05

0.02 (0.10%)

16:26
10/20/17
10/20
16:26
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Conference/Events
State National to host special shareholder meeting »

Special Shareholder…

MKL

Markel

$1,078.23

14.88 (1.40%)

SNC

State National

$21.05

0.02 (0.10%)

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  • 24

    Oct

  • 26

    Oct

RYTM

Rhythm Pharmaceuticals

$23.08

-0.17 (-0.73%)

16:22
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Breaking Hot Stocks news story on Rhythm Pharmaceuticals »

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