- ROTH Capital downgrades Cree (NASDAQ:CREE) from Buy to Neutral with a $35 price target, which is a 4.6% downside on yesterday’s closing price.
- Analyst Craig Irwin cites the fact that Cree will “generate a larger portion of FY18 gross margins from SiC wafer sales” and the entry of new wafer suppliers will add pressure to the market.
- Cree shares are down 1.6% to $36.10.
Cree -1.6% on analyst downgrade
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