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CREE

Cree

$29.57

-0.24 (-0.81%)

08:05
10/06/17
10/06
08:05
10/06/17
08:05

Technical View: Cree slips in pre-market, analyst action

The stock was last down over 3.2% to $28.60. At that price next support is at $27.52. Resistance is at the prior session closing price at $29.57. JPMorgan downgraded the shares to Underweight but also raised its price target to $28. The firm recommended the stock as a "tactical short" play.

CREE Cree
$29.57

-0.24 (-0.81%)

10/06/17
JPMS
10/06/17
DOWNGRADE
Target $28
JPMS
Underweight
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.
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.
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
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.

TODAY'S FREE FLY STORIES

NBL

Noble Energy

$29.58

0.45 (1.54%)

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Options
Notable call buying in Noble Energy as shares advance »

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HLF

Herbalife

$83.29

0.35 (0.42%)

15:19
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Options
Herbalife options imply 11.1% move in share price post-earnings, above median historical move »

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BLK

BlackRock

$540.70

-2.86 (-0.53%)

, RGR

Sturm, Ruger

$48.75

1.45 (3.07%)

15:17
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Periodicals
BlackRock to speak with gun makers, distributors after FL shooting, Reuters says »

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BLK

BlackRock

$540.70

-2.86 (-0.53%)

RGR

Sturm, Ruger

$48.75

1.45 (3.07%)

AOBC

American Outdoor Brands

$10.06

-0.12 (-1.18%)

WMT

Walmart

$92.78

1.26 (1.38%)

DKS

Dick's Sporting

$32.94

0.1 (0.30%)

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$NSD

NASDAQ Market Internals

15:17
02/22/18
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Technical Analysis
NASDAQ market internals summary »

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GTLS

Chart Industries

$49.71

-0.26 (-0.52%)

15:16
02/22/18
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Upgrade
Chart Industries rating change  »

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$NYE

NYSE Market Internals

15:16
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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15:15
02/22/18
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General news
Treasury Closing Summary: »

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General news
Breaking General news story  »

Dallas Federal Reserve…

BLK

BlackRock

$542.19

-1.37 (-0.25%)

15:10
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15:10
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15:10
Periodicals
BlackRock plans to engage with gun makers, sellers, Bloomberg says »

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FSLR

First Solar

$66.70

0.12 (0.18%)

15:04
02/22/18
02/22
15:04
02/22/18
15:04
Options
First Solar options imply 12.4% move in share price post-earnings, above median historical move »

Pre-earnings options…

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XLF

Financial Select Sector

$28.85

-0.079 (-0.27%)

, XLV

Health Care Select Sector SPDR

$84.25

0.13 (0.15%)

15:03
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15:03
Technical Analysis
Technical Take: S&P 500 falls to session lows heading into last hour of trading »

The S&P 500 (SPX) was…

XLF

Financial Select Sector

$28.85

-0.079 (-0.27%)

XLV

Health Care Select Sector SPDR

$84.25

0.13 (0.15%)

XRT

S&P Retail Index SPDR

$45.41

0.07 (0.15%)

SPY

SPDR S&P 500 ETF Trust

$271.15

1.1 (0.41%)

SPX

S&P 500

03/08/13
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ASFI

Asta Funding

$10.60

0.7 (7.07%)

15:02
02/22/18
02/22
15:02
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15:02
Hot Stocks
Asta Funding announces receipt of Nasdaq non-compliance letter »

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WYNN

Wynn Resorts

$166.36

1.44 (0.87%)

14:59
02/22/18
02/22
14:59
02/22/18
14:59
Periodicals
Massachusetts officials say Wynn investigation a priority, Bloomberg says »

Officials from the…

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NNN

National Retail Properties

$37.99

0.93 (2.51%)

14:58
02/22/18
02/22
14:58
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14:58
Syndicate
Breaking Syndicate news story on National Retail Properties »

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NTRI

Nutrisystem

$41.10

-0.2 (-0.48%)

14:50
02/22/18
02/22
14:50
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14:50
Options
Healthy put spread in NutriSystems ahead of earnings »

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OLED

Universal Display

$155.60

-5.5 (-3.41%)

14:49
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14:49
Options
Universal Display options imply 12.2% move in share price post-earnings, above median historical move »

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AMD

AMD

$11.72

-0.3 (-2.50%)

14:40
02/22/18
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Options
AMD put volume tops 100K contracts »

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  • 26

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MIC

Macquarie Infrastructure

$37.98

-25.64 (-40.30%)

14:30
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Hot Stocks
Macquarie Infrastructure plunges after cutting dividend »

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  • 22

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General news
FX Action: USD-JPY »

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PEG

PSEG

$49.26

0.73 (1.50%)

, COG

Cabot Oil & Gas

$24.07

0.82 (3.53%)

14:28
02/22/18
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14:28
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

PEG

PSEG

$49.26

0.73 (1.50%)

COG

Cabot Oil & Gas

$24.07

0.82 (3.53%)

HUN

Huntsman

$33.50

-0.09 (-0.27%)

CNK

Cinemark

$39.95

0.33 (0.83%)

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INTU

Intuit

$173.32

-0.25 (-0.14%)

, HPQ

HP Inc.

$21.41

0.24 (1.13%)

14:27
02/22/18
02/22
14:27
02/22/18
14:27
Earnings
Notable companies reporting after market close »

Notable companies…

INTU

Intuit

$173.32

-0.25 (-0.14%)

HPQ

HP Inc.

$21.41

0.24 (1.13%)

HPE

HP Enterprise

$16.40

0.145 (0.89%)

BMRN

BioMarin

$84.21

0.36 (0.43%)

GDDY

GoDaddy

$55.13

-0.57 (-1.02%)

OLED

Universal Display

$155.60

-5.5 (-3.41%)

HLF

Herbalife

$83.42

0.48 (0.58%)

FSLR

First Solar

$66.70

0.12 (0.18%)

EXAS

Exact Sciences

$46.64

-1.37 (-2.85%)

PLNT

Planet Fitness

$33.17

-0.51 (-1.51%)

TTD

Trade Desk

$49.81

-0.39 (-0.78%)

WING

Wingstop

$45.73

1.7 (3.86%)

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14:25
02/22/18
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General news
NASDAQ comp briefly rolled over into the red »

NASDAQ comp briefly…

TGNA

Tegna

$13.73

-0.26 (-1.86%)

14:17
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Hot Stocks
TEGNA names Howard Elias non-executive chairman of the board »

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$NSD

NASDAQ Market Internals

14:17
02/22/18
02/22
14:17
02/22/18
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

14:16
02/22/18
02/22
14:16
02/22/18
14:16
Technical Analysis
NYSE market internals summary »

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