Wolfspeed price target lowered to $25 from $45 at Canaccord

Canaccord lowered the firm’s price target on Wolfspeed to $25 from $45 and keeps a Buy rating on the shares. The firm believes the company is an excellent candidate for a grant, given its critical semiconductor technology in forward- looking industries and its U.S.-based manufacturing operations. However, it’s important to note that while the absence of this funding would pose significant challenges, the company could likely navigate through them bu they just need to stabilize the business.