WOLF - Wolfspeed rises as Citi adds semi stock to US Focus List

Wolfspeed (NYSE:WOLF) shares rose on Thursday after Citi added the semiconductor company to its U.S. Focus List. Analyst Amanda Scarnati, who has a buy rating and a $125 price target on the stock, noted that Wolfspeed is "best positioned" with its technology and ability to capitalize on the shift to system-in-a-chip and is likely to see "significant growth" through 2026, with 2022 and 2023 poised for more than 40% growth.  Wolfspeed (WOLF) shares rose slightly more than 1.5% to $105.25 in premarket trading on Thursday. In addition, Scarnati noted that Wolfspeed has "strong exposure" to power supply for electric vehicles, charging stations and the conversion of industrial power which makes it a "highly attractive" [Environmental, Social, and Governance] stock.  "Within automotive, in 2030, if 35 [million] [battery electric vehicles] use [system-in-a-chip]   the lifetime savings for that one model year would include [greenhouse gas] emissions equivalent to 2.7 billion gallons of gasoline," Scarnati wrote.

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Wolfspeed rises as Citi adds semi stock to US Focus List