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Cree -1.6% on analyst downgrade

Jan. 23, 2018 9:51 AM ETWolfspeed, Inc. (WOLF) StockWOLFBy: Brandy Betz, SA News Editor1 Comment
  • 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.    

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