BofA lowered the firm’s price target on Wolfspeed to $15 from $25 and keeps an Underperform rating on the shares. Wolfspeed is making progress in ramping its new 200mm Mohawk Valley fab, but this is more than offset by continued weak industrial demand and an unfavorable cost structure, says the analyst, who doesn’t see a quick fix and believes cash burn could continue “well into” calendar year 2026, barring any changes in strategic direction by management.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WOLF:
- Wolfspeed price target lowered to $17 from $28 at Mizuho
- Wolfspeed price target lowered to $20 from $35 at Piper Sandler
- Closing Bell Movers: Clearmind jumps after patent approval for binge treatment
- Wolfspeed sees Q1 adjusted EPS ($1.09)-(90c), consensus (83c)
- Wolfspeed reports Q4 adjusted EPS (89c), consensus (85c)
Questions or Comments about the article? Write to editor@tipranks.com