After more than a year when an outperformance rating was given on Cree (CREE), it has turned out to be an overachiever with 112% returns. Cree is a LED lighting company which has always focused on delivering the best performance at the lowest cost. The company has to face tough competition from its peers such as Philips and General Electric, but since Cree is a pure LED lighting company, it has withstood the competition. During the beginning of this year, it was anticipated by many analysts that Cree’s lighting business would suffer due to tough competition from bigger corporations. Moreover, according to analysts, Cree was priced for perfection and there wasn’t much upside left.
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