Wolfspeed price target lowered to $103 from $111 at Canaccord

Canaccord analyst George Gianarikas lowered the firm’s price target on Wolfspeed to $103 from $111 and keeps a Buy rating on the shares. The analyst said despite strong underlying demand for both SiC material and power devices, Wolfspeed’s fundamentals continue to be impacted by issues that will likely look like minor nuisances with the benefit of hindsight 12 months from now.