In a report released yesterday, Jonathan Dorsheimer from Canaccord Genuity reiterated a Buy rating on Cree (NASDAQ: CREE), with a price target of $60. The company’s shares closed yesterday at $50.16, close to its 52-week high of $51.78.
According to TipRanks.com, Dorsheimer is ranked #4547 out of 4857 analysts.
Cree has an analyst consensus of Moderate Buy, with a price target consensus of $49.40, implying a -1.5% downside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $53 price target.
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Based on Cree’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $33.26 million. In comparison, last year the company had a GAAP net loss of $5.89 million.
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Cree, Inc. operates as an innovator of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. It operates through the following segments: LED Products, Lighting Products, Power and RF Products segments.
