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Wolfspeed price target lowered to $95 from $100 at Citi
The Fly

Wolfspeed price target lowered to $95 from $100 at Citi

Citi analyst Atif Malik lowered the firm’s price target on Wolfspeed to $95 from $100 and keeps a Buy rating on the shares after the fiscal Q2 results. The company’s new 200m Mohawk Valley fab is taking longer to ramp and sales timing is being delayed by a quarter, the analyst tells investors in a research note. The firm believes manufacturing execution on the Mohawk Valley fab will dictate the stock outcome.

Published first on TheFly

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