Wolfspeed price target lowered to $88 from $90 at Susquehanna

Susquehanna analyst Christopher Rolland lowered the firm’s price target on Wolfspeed to $88 from $90 and keeps a Neutral rating on the shares. The analyst said revenue growth and margin expansion are two key underpinnings to the bull narrative on Wolfspeed, and this quarter was a setback on both fronts.