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Canaccord praises Cree's 'important partnership'

|About: Cree, Inc. (CREE)|By:, SA News Editor

Canaccord Genuity maintains a Buy rating and $72 PT on Cree (NASDAQ:CREE), praising the Delphi (DLPH -2.7%) partnership for automotive silicon carbide devices.

The firm calls the deal, which was announced earlier this week, "an important partnership" with a financial impact that's difficult to quantify, we view this as yet another channel for CREE to deliver its SiC solutions."

Cree shares are up 0.9% to $47.94. The company has a Hold average Sell Side rating.

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