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Technology Stocks : Wolf speed
WOLF 21.76-8.4%3:59 PM EST
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From: slacker7111/4/2022 7:47:49 AM
1 Recommendation

Recommended By
OldAIMGuy

   of 10712
 
Piper upgrade from yesterday.

https://www.benzinga.com/amp/content/24861041

Piper Sandler analysts upgraded Wolfspeed Inc (NYSE: WOLF) to Overweight from Neutral and increased the price target to $160 from $125, implying a 33.4% upside.

  • "After being on the sidelines for the last few years, we feel investors should own the stock now," said Harsh Kumar, an analyst at Piper Sandler.
  • "Wolfspeed has the best wafers that allow for a yield advantage when manufacturing large chips," Kumar said, referring to the company's 8-inch wafer line.
  • In addition, the company's new factory in Mohawk Valley, New York, is nearly ready to roll out commercial wafers by mid-year.
  • Piper Sandler noted it as a key driver of expansion as the company's North Carolina facility is manually oriented and meant for LED production.
  • The analysts said they feel the valuation is more compelling after the roughly 20% pullback in the stock.
  • Price Action: WOLF shares traded higher by 7.65% at $120.32 on the last check Monday.
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