Piper Sandler Raises Wolfspeed Price Target to $20, Keeps Overweight
Piper Sandler lifted its price target on Wolfspeed from $6 to $20 while reaffirming its Overweight rating, reflecting confidence in silicon carbide demand. Wolfspeed stock has surged 184.5% over the past year with an $862.1 million market capitalization.
1. Piper Sandler Maintains Overweight Rating on Wolfspeed
In early February Piper Sandler reaffirmed its Overweight rating on Wolfspeed shares, signalling continued bullish sentiment toward the semiconductor company’s silicon carbide business.
2. Price Target Raised to $20
The firm increased its 12-month price target for Wolfspeed from $6 to $20, marking a $14 boost in its valuation outlook based on expected market growth.
3. Wolfspeed’s Strong Performance and Growth Drivers
Wolfspeed stock has advanced 184.5% over the past 12 months and holds an $862.1 million market capitalization. Piper Sandler cited robust demand in AI data centers, renewable energy systems and electric vehicles as key catalysts.