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.
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