|From yesterday. |
Recommendations Cree price target lowered to $90 from $100 at Deutsche Bank 07:04 CREE, WOLF Deutsche Bank analyst Sidney Ho lowered the firm's price target on Cree to $90 from $100 and keeps a Hold rating on the shares. The analyst expects Cree at the November 17 capital markets day to express continued confidence on its silicon carbide power device pipeline. However, he still has concerns on the likelihood of the company achieving its 50%-54% non-GAAP gross margin goal for fiscal 2024. This requires "perfect execution" on the ramp-up of Mohawk Valley, Ho tells investors in a research note.
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