Hot News!CREE will report upside surprise on Tuesday.Read!
Cree (Nasdaq: CREE) shares are outperforming the broader stock market handily Monday afternoon as Piper Jaffray's Ahmar Zaman issued a note this morning suggesting the company will beat the Street's second-quarter expectations on Tuesday, January 17th. Zaman maintains an Overweight rating and $50 price target on shares of Cree.
Zaman cites an expected increase in rush orders to China. The analyst's checks indicate demand for LED street lighting within China has now recovered, showing about 30 percent growth compared to last year.