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Why Cree Stock Just Popped 10%

TheMotleyFool

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Shares of LED lighting specialist Cree (NASDAQ: CREE) were up 9.8% as of 11:40 a.m. EDT Wednesday in response to an upgrade from JP Morgan.

The investment bank upgraded shares of Cree from underweight to neutral, and assigned the stock a $60 price target that implies about 10% further upside after Wednesday's bump.

Image source: Getty Images.

Source Fool.com

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