July 13th 2010
Piper Jaffray On LED Lighting Stocks: CREE, RBCN, VECO
Piper Jaffray was out with some rating changes/coverage of LED lighting stocks after the bell today. Hat tip to for the following analyst comments….
Initiated Cree Inc (CREE) at Overweight with $88 price target. They believe Cree is the leading LED play and that the recent pull back offers an attractive entry point. To that I say it’s up 20% in two weeks.. would have been an attractive entry point at the beginning of July.
Initiated Rubicon Technologies (RBCN) at Overweight with a $39 price target. They see LED capacity expansion outpacing sapphire supply which benefits Rubicon. I’d have to agree, but is a concern especially after the run it’s had.
Veeco Instruments (VECO) downgraded from Overweight to Neutral and price target reduced from $69 to $44. The firm p