Why Wolfspeed Stock Blasted Higher (Again) Today
Shares of (NYSE: WOLF) continued their remarkable recovery on Wednesday, soaring by as much as 19.5%. As of 12:35 p.m. ET, the stock was still up 17.8%.
The catalyst that sent the semiconductor specialist higher was a vote of confidence from a Wall Street analyst.
Morgan Stanley's Joseph Moore raised his price target on Wolfspeed to $15 from $10, though he maintained an equal weight (hold) rating on the shares. That new target would amount to a gain of roughly 9% from Tuesday's closing price. However, with its move higher Wednesday, the stock has already blown past that price target.
Source Fool.com
