Yesterday: Cree -10%; Q1 results below expectations
Remains Sector weight at Pacific Crest Securities (extended recovery expected, some 2017 momentum in lighting noted), Market perform at Cowen and Company ($23-$25 target, few catalysts) [current price $22.74], Market perform at Northland Capital Markets ($25 target, new focus, products needed) and Hold at Needham & Company (near-term catalysts limited).
Stephens adjusts its rating on the report, downgrading to Equal weight from Overweight previously.
Cree (CREE -9.7%) shares are presently down 20% on a 3-month term and 10% on the year.
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