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CREE

Cree

$57.27

0.36 (0.63%)

07:07
03/20/19
03/20
07:07
03/20/19
07:07

Cree upgraded to Outperform after industry conference at JMP Securities

As previously reported, JMP Securities analyst Joseph Osha upgraded Cree to Outperform from Market Perform after attending the Applied Power Electronics Conference, which he said underscored the extent to which wide bandgap materials are becoming the default solution in high-voltage power electronics. After attending the APEC event and meeting with a senior CREE executive along with the CTO of the PowerAmerica consortium, the analyst now thinks that he has been too conservative on the valuation front given his view that Cree "is positioned squarely at the center of some of the most interesting developments in the electronics business." Osha, who also cites the fact that the company's troubled lighting business is being sold, has a $74 price target on Cree shares.

  • 01

    May

CREE Cree
$57.27

0.36 (0.63%)

03/20/19
JMPS
03/20/19
UPGRADE
JMPS
Outperform
Cree upgraded to Outperform from Market Perform at JMP Securities
01/31/19
OPCO
01/31/19
NO CHANGE
Target $59
OPCO
Outperform
Cree price target raised to $59 from $53 at Oppenheimer
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.
01/29/19
01/29/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nvidia (NVDA) downgraded to Equal Weight from Overweight at Morgan Stanley and to Underperform from Buy at Needham. 2. Square (SQ) downgraded to Underperform from Market Perform at Raymond James with analyst John Davis saying he thinks organic growth peaked in Q3 of 2018 and expects growth in subs and services to materially decelerate in Q2 as acquisitions of Weebly and Zesty move into the base with their slower growth. 3. AK Steel (AKS) downgraded to Neutral from Outperform at Macquarie with analyst David Lipschitz saying while its Q4 earnings topped consensus, the company's margin improvements from contract renewals were "less than expected," adding that earnings could face "further downside risks as the current steel pricing environment stays weak and raw material costs continue to rise." 4. Cree (CREE) downgraded to Market Perform from Outperform at JMP Securities with analyst Joseph Osha saying he sees no signs at the moment that competing suppliers, including Chinese firms, are catching up with Cree in terms of its dominance in silicon carbide materials and devices. 5. Fortis (FTS) downgraded to Hold from Buy at TD Securities with analyst Linda Ezergailis citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/29/19
01/29/19
DOWNGRADE

Market Perform
Cree downgraded to Market Perform on valuation at JMP Securities
As previously reported, JMP Securities analyst Joseph Osha downgraded Cree to Market Perform from Outperform, stating that he sees no signs at the moment that competing suppliers, including Chinese firms, are catching up with Cree in terms of its dominance in silicon carbide materials and devices. However, he is assigning a "robust valuation" for the semiconductor business and he sees "far less value" in other parts of the company, Osha tells investors. With the stock having exceeded his prior $46 price target, he is unable to find any reasons to move his valuation target higher, Osha stated.

TODAY'S FREE FLY STORIES

BIIB

Biogen

$229.89

1.15 (0.50%)

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BIIB

Biogen

$229.89

1.15 (0.50%)

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AVY

Avery Dennison

$115.99

2.085 (1.83%)

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CE

Celanese

$112.15

7.65 (7.32%)

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AVY

Avery Dennison

$115.99

2.085 (1.83%)

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Earnings
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General news
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BTC

Bitcoin

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Bitcoin

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Coinbase shutters Chicago office, lays off about 30 engineers, Forbes reports »

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TFX

Teleflex

$280.05

5.46 (1.99%)

06:43
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06:43
Downgrade
Teleflex rating change  »

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CDXC

ChromaDex

$4.22

0.225 (5.63%)

06:41
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BSX

Boston Scientific

$35.88

0.95 (2.72%)

06:41
04/24/19
04/24
06:41
04/24/19
06:41
Earnings
Boston Scientific narrows FY19 adj. EPS view to $1.54-$1.58 from $1.53-$1.58 »

Consensus $1.56. Narrows…

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TSEM

TowerJazz

$17.73

0.28 (1.60%)

06:40
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06:40
Downgrade
TowerJazz rating change  »

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ZBH

Zimmer Biomet

$122.76

1.64 (1.35%)

06:39
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04/24
06:39
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06:39
Upgrade
Zimmer Biomet rating change  »

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NOC

Northrop Grumman

$292.59

9.73 (3.44%)

06:39
04/24/19
04/24
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Hot Stocks
Northrop Grumman CEO says 'captured substantial new awards' in Q1 »

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CPF

Central Pacific

$29.52

0.62 (2.15%)

06:39
04/24/19
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Earnings
Central Pacific reports Q1 EPS 55c, consensus 50c »

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RCKT

Rocket Pharmaceuticals

$19.32

1.54 (8.66%)

06:39
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Rocket Pharmaceuticals management to meet with Evercore ISI »

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NOC

Northrop Grumman

$292.59

9.73 (3.44%)

06:38
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Earnings
Northrop Grumman raises FY19 adj. EPS view to $18.90-$19.30 from $18.50-$19.00 »

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BTC

Bitcoin

$0.00

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SFTBF

SoftBank

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RARX

RA Pharmaceuticals

$21.95

0.68 (3.20%)

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AKR

Acadia Realty Trust

$28.19

0.505 (1.82%)

06:36
04/24/19
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06:36
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Conference/Events
Acadia Realty Trust management to meet with JPMorgan »

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PHM

PulteGroup

$31.34

1.11 (3.67%)

06:36
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Upgrade
PulteGroup rating change  »

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BSX

Boston Scientific

$35.88

0.95 (2.72%)

06:36
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Earnings
Boston Scientific sees Q2 adj. EPS 37c-39c, consensus 39c »

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NOC

Northrop Grumman

$292.59

9.73 (3.44%)

06:36
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Earnings
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FND

Floor & Decor

$47.36

2.04 (4.50%)

06:36
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PB

Prosperity Bancshares

$72.11

0.975 (1.37%)

06:35
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Earnings
Prosperity Bancshares reports Q1 EPS $1.18, consensus $1.16 »

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TRK

Speedway Motorsports

$13.98

0.27 (1.97%)

06:34
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