Wolfspeed price target adjusted to $30 from $1.50 at Susquehanna

Susquehanna raised the firm’s price target on Wolfspeed (WOLF) to $30 from $1.50 and keeps a Neutral rating on the shares as part of an earnings preview for the semiconductor group. The firm generally expects in-line results to modest upside in Q3. However Chinese electric vehicle production cuts and easing tariff pull-ins may negatively impact the Q4 outlook for auto exposed names, the analyst tells investors in a research note. Still, Susquehanna expects “generally better than seasonal results” for the group in Q4.