Wolfspeed stock price target held amid supply deal optimism By Investing.com
On Friday, Roth/MKM maintained a positive stance on Wolfspeed (NYSE:) shares, reiterating a Buy rating with a steady price target of $25.00. The firm’s optimism is based on insider information that Wolfspeed is nearing the end of negotiations to provide 200mm silicon carbide (SiC) wafers to several key third-party customers, with announcements expected soon.
The demand for large-diameter SiC wafers remains strong, as they are considered the most cost-effective option. This demand has resulted in Wolfspeed’s customers being hesitant to switch to newer market entrants, reinforcing Wolfspeed’s market leadership.
The analyst also noted the potential benefits from the CHIPS Act funding, which is anticipated to be approved before the…
