Cree Inc (NASDAQ:CREE): Market Likely Overestimates Earnings Power, Cut to Underweight – Morgan Stanley

Morgan Stanley is out making a significant LED lighting call this morning downgrading the sector leader Cree Inc (NASDAQ:CREE) to Underweight from Equal-Weight with a $36 price target (prev.NA). Firm is cutting their estimates way below consensus noting they cannot recommend the stock today as a way to play the secular growth theme. The details: [...]
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