Craig-Hallum lowered the firm’s price target on Enovix to $15 from $20 and keeps a Buy rating on the shares. The firm continues to believe Enovix’s battery technology shows massive upside as it remains on track to begin sampling from their high-volume Fab-2 in Q2. Further, Craig-Hallum highlights Enovix signed a development agreement with one of the top 5 smartphone OEMs by unit volume during the quarter.
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