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To: Jeff Jordan who wrote (2055)8/22/2002 9:29:32 AM
From: Ron  Respond to of 5125
 
Yes indeed...

Cree cut to 'reduce' at UBS

Last Update: 8/22/2002 6:48:01 AM

UBS Warburg downgraded its rating on Cree Inc. to 'reduce' from 'hold' "owning

to what we believe is the excessive optimism over the implications of Cree's

ramp in LED sales targeting backlighting applications for color cellular

handsets," the broker told clients. It maintained a 12-month price target of

$12. CREE down 1.30 so far premkt.