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No. of Recommendations: 2
Maxim predicts that Cree will report strong Q2 results on January 22, driving both analyst estimates and the stock higher. Maxim sees an upside to Q2 and Q3 consensus estimates for Cree when considering the company’s new distributor program, which raises minimum orders and strong demand for new product launches. The firm has reiterated its Buy rating and a $38 price target on the stock. Additionally, Jefferies downgraded the shares last night to Underperform from Buy.
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