*SCALPSWINGSTRADDLE*

[bobirw]

Jamie gang vs Lloyd gang yesterday and $6 back. Jamie loaded the most, I guess.

Cree price target raised to $41 from $29 at JMP Securities
JMP Securities analyst Joseph Osha said he sees "considerable value" to be unlocked in Cree and he believes incoming CEO Gregg Lowe is the right person for the job. Osha, who thinks it is reasonable to expect the company to divest its lighting equipment business and focus its efforts on the semiconductor business, raised his price target on the stock to $41 from $29 and keeps an Outperform rating on Cree shares.

Goldman Sachs says to fade Cree's recent run
Goldman analyst Brian Lee reiterated his Sell rating on Cree following another disappointing earnings report and disappointing guidance. The analyst said fundamentals are not inflecting as Cree's valuation suggests and recommends "fading the rally." Lee raised Cree's price target to $19 from $17 to reflect higher comp multiples.