WOLF - Wolfspeed upgraded at Goldman ahead of 'significant EPS inflection'
Wolfspeed (NYSE:WOLF) +5.7% pre-market on Friday after Goldman Sachs upgrades shares to Buy from Neutral with a $108 price target, citing strong growth potential and an attractive valuation. "While WOLF's growth story tied to EVs is likely well appreciated by investors given the company's ongoing investment and backlog growth in this space over the past couple of years, the stock has given back a significant amount of the momentum trade," Goldman's Brian Lee writes. The analyst says he is "tactically more bullish given the most significant EPS inflection in the company's history is now a near-to-medium term event, [and the stock's] entry point is more attractive than it's been in some time with potential for EPS power of greater than $3.00 in FY 2025." Lee also says Wolfspeed's (WOLF) "improved execution and maturing ramp-up of new capacity sets the pace for potential topline/margin beats." Wolfspeed (WOLF) "could go either way
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Wolfspeed upgraded at Goldman ahead of 'significant EPS inflection'