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Fly News Breaks for November 13, 2018
Nov 13, 2018 | 07:01 EDT
As reported earlier, BMO Capital analyst Ambrish Srivastava initiated Cree with an Outperform rating and a price target of $55. The analyst says the stock represents an "investment idea" based on its unique capability and disruption potential in the "wide bandgap semiconductors via its Wolfspeed division", adding that it may also be a potential acquisition candidate in spite of the slowdown in M&A activity in the semis. Srivastava further contends that Cree stands to benefit from demand in markets ranging from Electric Vehicles to 5G connectivity.
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