12:40 AM EDT, 04/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our price target by $2 to $38, using an EV/Sales ratio of 6x our FY 25 (Jun.) sales estimate, near high-growth peers but below WOLF's 3-year average (~10.5x) on a weak near-term outlook in the industrial/automotive markets. We maintain our FY 24 sales view at $826M, maintain FY 25's at $1.22B, and initiate FY 26 at $1.83B. We see WOLF shares ~30% downward move in '24 as an overreaction, offering a buying opportunity. We expect continued losses in the medium-term and do not see positive OCF until mid-FY 25, but we think the noise created by Mohawk Valley Fab's (MVF) startup costs shifting to COGS is starting to fade, allowing investors to focus on operational targets (i.e., 20% MVF utilization by June) that we think are achievable. We remain positive on the demand outlook for SiC and see upside from potential CHIPS act incentives given the strategic value of WOLF's business. We maintain our FY 24 and FY 25 loss per share views at $2.29 and $1.30, respectively, and initiate a FY 26 EPS view at $0.53.