Yahoo Finance

Goldman Sachs suspended the firm’s investment rating, price target and earnings estimates for Wolfspeed (WOLF) after the company issued a “going concern” warning. The company ended its fiscal Q3 quarter with $6.5B of debt obligations and has engaged external advisors to assist with the evaluation of strategic alternatives, the analyst tells investors in a research note. The firm says management also continued to acknowledge that demand remains weak. Goldman believes there is currently not sufficient basis for determining an investment rating on Wolfspeed.

Confident Investing Starts Here:

• Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions

• Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See Insiders’ Hot Stocks on TipRanks >>

Read More on WOLF:

Disclaimer & DisclosureReport an Issue

• Wolfspeed creditors extend rescue financing offer, FT reports

• Notable open interest changes for May 12th

• Largest borrow rate increases among liquid names

• Wolfspeed, Inc. Earnings Call: Mixed Sentiments and Strategic Moves

• Wolfspeed Stock (WOLF) Plunges Nearly 30% as Analysts Downgrade or Abandon the Company