LED manufacturer, CREE (CREE: chart, web, Y!), is still looking strong, and I’ve been able to take advantage of some pull backs in the market since making my last purchase.

Recently, coverage was initiated at JP Morgan with an Overweight rating and $45 price target.  Additionally, CREE will be adding more than 500 jobs over the next three years as it expands production of light-emitting diode chips at its Durham, NC plant.

I’ll be looking to add more shares in my Roth IRA account on the next pull back in the stock, and I think $50 per share is a reasonable expectation for this growing company.  LED’s are just now becoming main stream, and the market will be expanding over the next 10 years.

Investing CREE, Investing, LED lighting