Cree Led Recessed Lighting Retrofit Home Depot
Cree (NASDAQ: CREE) appear a new artefact at its C2Q10 appointment call. Its new CR6 recessed accoutrement down-light will retail for $50 at Home Depot (NYSE: HD).
JP Morgan analysts Christopher Blansett and Brian Lee said, "A accepted non-dimmable CFL charcoal the everyman CoO for the homeowner, Assuming no amount is incurred for ball replacement. We appraisal a Cree CR6 has an 18% college all-embracing CoO than a standard, non-dimmable CFL while accomplishing an 11% lower CoO against dimmable CFLs. Compared to an beaming bulb, the Cree CR6 artefact has a 66% lower CoO."
Cree is rated Overweight with a amount ambition of $77.00.
Shares of CREE are currently trading at $56.60.
© 2017 Benzinga.com. Benzinga does not accommodate advance advice. All rights reserved.