Wells Fargo lowered the firm’s price target on Wolfspeed to $50 from $60 and keeps an Overweight rating on the shares. Wolfspeed has delivered inconsistent results and guidance over the past few quarters, the analyst tells investors in a research note. Shares are down 35% since the June quarter call, with weakness likely attributable to “fatigue” over Wolfspeed’s story, especially considering the surprise accounting changes last quarter, the firm says.
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