BofA analyst Vivek Arya lowered the firm’s price target on Wolfspeed to $49 from $56 and keeps an Underperform rating on the shares following the Q4 results. While Wolfspeed has unique SiC assets, it also has a lack of profitability, and competition and execution remain risks, the analyst tells investors in a research note.
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- Wolfspeed (NYSE: WOLF) Plummets on Weak Q4 and Accounting Change Worries
- Wolfspeed (NYSE:WOLF) Nosedives 13% amid Earnings, Guidance Disappointment
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- Wolfspeed sees Q1 adjusted EPS (75c)-(60c), consensus (29c)
- Wolfspeed reports Q4 adjusted EPS (42c), consensus (20c)