CREE - Possible Takeover by IBM

CREE popped on Tuesday on speculation that the firm is a takeover target. How much truth is there to this market rumor?

According to Cannacord Adams analyst Jonathan Dorsheimer, Cree is often a target of takeover talk and he doesn’t think this one is true. Dorsheimer likes Cree long term, but thinks “the shares are overvalued” at the present moment.

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