Oppenheimer Starts Stock Coverage on Cree (CREE)
Equities research analysts at Oppenheimer (NYSE: OPY) started coverage on shares of Cree (NASDAQ: CREE) in a research note issued to investors on Friday. The firm set an “outperform” rating on the stock.
A number of other firms have also recently commented on CREE. Analysts at Maxim Group reiterated a “buy” rating on shares of Cree in a research note to investors on Friday, May 25th. They now have a $38.00 price target on the stock. Separately, analysts at Stephens initiated coverage on shares of Cree in a research note to investors on Thursday, May 24th. They set an “equal weight” rating on the stock. Finally, analysts at Wunderlich Securities reiterated a “sell” rating on shares of Cree in a research note to investors on Wednesday, May 23rd.
Cree opened at 23.62 on Friday. Cree has a 52-week low of $20.25 and a 52-week high of $33.45. The company has a market cap of $2.731 billion and a price-to-earnings ratio of 49.41.
Cree last posted its quarterly earnings results on Tuesday, April 17th. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.01. Cree’s revenue was up 29.9% compared to the same quarter last year. Analysts expect that Cree will post $0.28 EPS next quarter.
Cree, Inc. (Cree) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.