Why We Increased Our Price Estimate For Cree [Forbes]
Cree, Inc. (CREE)
Last cree, inc. earnings: 4/29 04:01 pm
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Source: Forbes
Why We Increased Our Price Estimate For Cree Light-emitting diodes (LEDs) are inspected at a Cree Inc. facility in Research Triangle Park in Durham, North Carolina, on Tuesday, Jan. 19, 2010. (Photographer: Jim R. Bounds/Bloomberg) BLOOMBERG NEWS We are increasing our price estimate for Cree (NASDAQ:CREE) from about $47 per share to about $60 per share, driven by the company’s pivot away from the commoditized lighting business to higher-margin businesses such as power and RF products, and stronger-than-expected results over the first three-quarters of this fiscal year. That said, our price estimate remains slightly below the current market price. Below, we outline the rationale for the price increase. View our interactive dashboard analysis on What’s driving our price estimate for Cree? Divestment of the lighting business is a positive step Wolfspeed business will drive Cree’s future growth Trefis What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs CFOs an
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