Deutsche Bank analyst Robert Sanders lowered the firm’s price target on Wolfspeed to $80 from $90 and keeps a Hold rating on the shares. The analyst forecasts the company’s Q2 sales to decline 7% quarter-over-quarter given "well-understood" execution challenges in the materials business as well as reduced availability of spare parts at the Durham site.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on WOLF:
- Wolfspeed names Elif Balkas CTO
- Wolfspeed to supply silicon carbide devices to power Mercedes-Benz EV platforms
- Wolfspeed price target lowered to $106 from $125 at JPMorgan
- Citi opens ‘positive Catalyst Watch’ on Wolfspeed after SiC agreement
- Piper ‘quite confident’ ON Semiconductor did not expand capacity with Wolfspeed