Canaccord analyst Jed Dorsheimer lowered his price target on Cree to $72, saying the Huawei component shipment restriction is still weighing on the company's Q1 outlook. The analyst notes that the company has filed licenses for its GaN 5G products, but its inability to ship to Huawei creates a $15M headwind per quarter, which is compounded by the "general softness" in China domestic EV output. Dorsheimer still keeps his Buy rating on Cree, maintaining his broader positive view around a shift to SiC in EVs and infrastructure, and sees that opportunity as a "compelling" driver for the stock.