Morgan Stanley lowered the firm’s price target on Wolfspeed to $44 from $54 and keeps an Equal Weight rating on the shares. Wolfspeed’s gross margins continue to disappoint for the next several quarters around a somewhat slower ramp for the Mohawk Valley fab, the analyst tells investors in a research note.
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Read More on WOLF:
- Wolfspeed (NYSE: WOLF) Plummets on Weak Q4 and Accounting Change Worries
- Wolfspeed price target lowered to $49 from $56 at BofA
- Wolfspeed (NYSE:WOLF) Nosedives 13% amid Earnings, Guidance Disappointment
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- Wolfspeed sees Q1 adjusted EPS (75c)-(60c), consensus (29c)