Mizuho Downgrades Wolfspeed to Underperform, Lowers Price Target to $8
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Vijay Rakesh has downgraded Wolfspeed (NYSE:WOLF) from Neutral to Underperform and reduced the price target from $17 to $8.
October 03, 2024 | 12:02 pm
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NEGATIVE IMPACT
Mizuho has downgraded Wolfspeed to Underperform and significantly lowered its price target to $8, indicating a negative outlook.
The downgrade from Neutral to Underperform by Mizuho, along with a drastic reduction in the price target from $17 to $8, suggests a negative short-term outlook for Wolfspeed. This is likely to lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100