2021-01-26 07:07:07 CREE Cree
01/26/21 01/2607:07 01/26/2107:07 | Cree price target raised to $100 from $60 at Deutsche BankDeutsche Bank analyst Sidney Ho raised the firm's price target on Cree to $100 from $60 and keeps a Hold rating on the shares. The analyst believes recent macro headwinds have started to abate for the company. Ho has also become more positive on the adoption of electric vehicles over the long-term with renewed focus on the environment by the new U.S. administration and a growing number of electric vehicle offerings globally. This provides increased conviction that Cree will be able to hit its fiscal 2024 revenue target of $1.5B, but the current stock price is already reflecting this strong growth potential, Ho tells investors in a research note. |
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