Jana’s Wolfspeed suggestions ‘seem like a wish-list,’ says Wells Fargo

After Reuters reported that Jana Partners has asked Wolfspeed to reconsider future possible investment to construct a new wafer facility in Germany and also urged the company to consider a sale among an evaluation of strategic alternatives, Wells Fargo analyst Gary Mobley said that “most of the suggestions seem like a wishlist,” though urging Wolfspeed to not overinvest “seems most prudent.” The firm has an Equal Weight rating and $30 price target on Wolfspeed shares.