Enovix initiated with a Buy at Canaccord

Canaccord analyst George Gianarikas initiated coverage of Enovix with a Buy rating and $20 price target. He sees multiple parallels between the communications revolution of the late 1990s to 2000s and today’s energy systems revolution, calling batteries "the new crude." In that context, Gianarikas contends that pioneering, invention, and exploration of new battery technologies is akin to "modern wildcatting," or high-reward endeavors that are not without risk.