12:25 AM EDT, 05/02/2024 (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 $7 to $31, utilizing an EV/Sales ratio of 6x our FY 25 (Jun.) sales view, below WOLF's 3-year average (~10x) on near-term inventory headwinds in the industrial and energy markets (I&E), which we expect to drag sales throughout CY 24. We lower our FY 24 sales view by $15M to $811M, lower FY 25's by $44M to $1.12B, and lower FY 26's by $51M to $1.78B. WOLF posts Mar-Q sales of $201M (-12% Y/Y) and a loss per share (LPS) of $0.62, near consensus, with a soft Jun-Q sales guide (flat Q/Q) as the company will transition some I&E capacity to serve EV demand. Our focus remains on operational execution, and we are encouraged by the progress at Mohawk Valley Fab, where sales grew >2x Q/Q (to $28M) and utilization surpassed 16%. We remain confident in the long-term demand environment, supported by $2.8B of design-ins / $0.9B of design-wins during the quarter. We adjust our FY 24 LPS view from $2.29 to $2.48, adjust FY 25's from $1.30 to $1.71, and lower our FY 26 EPS view by $0.04 to $0.49.