Wolfspeed price target lowered to $35 from $43 at JPMorgan

JPMorgan analyst Samik Chatterjee lowered the firm’s price target on Wolfspeed to $35 from $43 and keeps a Neutral rating on the shares as part of a Q1 preview for the hardware and networking group. The sector is heading into Q1 earnings with one of the more benign macro backdrops in recent quarters, the analyst tells investors in a research note.