XSD - Wolfspeed At A Crossroads: Analyst Points To Competitive Pressures EV Slowdown Impact | Benzinga
Mizuho analyst Vijay Rakesh initiated coverage on Wolfspeed Inc (NYSE:WOLF) with a Neutral rating and a price target of $30.
Wolfspeed, a global leader in the Silicon Carbide (SiC) substrate wafer and device market, plays a pivotal role in shaping the future of automotive and renewable energy industries with its cutting-edge technology, Rakesh noted. As a pure-play SiC supplier, Wolfspeed is at the forefront of high power management, which is crucial for automotive electrification and renewable energy solutions, per the analyst.
Despite leading the market, Wolfspeed faces potential challenges from increasing domestic and international competition, particularly with the SiC Total Addressable Market (TAM) expected to grow at a Compound Annual Growth Rate (CAGR) of approximately 30%. He noted that this competition, coupled with a decelerating Electric Vehicle (EV) market, could impact ...