|From yesterday....good to have some bears on the stock. |
Cree named short-term sell idea at Deutsche Bank 06:55 CREE Deutsche Bank analyst Sidney Ho placed a "Catalyst Call: Sell" on shares of Cree as a short-term sell idea. Cree has already begun to underperform, despite the positive demand backdrop in terms of electric vehicle sales, Ho tells investors in a research note. The analyst remains concerned about the sustainability of Cree's over 60% share in silicon carbide substrates which he notes represents two-thirds of gross profits today. Further, Ho is not convinced that Cree will prove to have a meaningful lead at 200mm either. The analyst also continues to believe Cree will be a year late in achieving its $1.5B sales target and expects it will not meet its greater than 50% gross margin target at all.
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