The initiation of coverage by Jefferies with a Hold rating and a price target of $46 for Wolfspeed (NYSE:WOLF) is likely to have a neutral impact on the stock price in the short term. The Hold rating suggests that the analyst believes the stock is fairly valued and does not expect significant price movement in the near future. The price target of $46 provides a reference point for investors, but the Hold rating indicates that the stock is not expected to outperform or underperform the market.