Canaccord lowered the firm’s price target on Wolfspeed (WOLF) to $18 from $25 and keeps a Buy rating on the shares. The firm said the fundamentals have taken another leg down. Based mostly on weakness in its materials business and push-outs in EVs, management’s guidance for the December quarter was weaker than expected.
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Read More on WOLF:
- Wolfspeed price target lowered to $11 from $16 at Susquehanna
- Wolfspeed price target lowered to $10 from $12 at TD Cowen
- Wolfspeed price target lowered to $18 from $20 at Piper Sandler
- Wolfspeed price target lowered to $17 from $20 at JPMorgan
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