Reportedly, Cree has won a contract from General Electric for producing 60 watt LED replacement light bulbs.
According to Canaccord Genuity analyst Jonathan Dorsheimer asserts in a research note, “We have finally confirmed that Cree has indeed won GE’s 60W replacement bulb business,” and estimated the deal would add 69 cents a share on pro forma EPS over the next five years, with a range of 32 cents to $1.60 a share, with sales from the deal over the five-year period ranging from $337 million to $1.6 billion.
