Enovix price target lowered to $18 from $19 at B. Riley

B. Riley analyst Christopher Souther lowered the firm’s price target on Enovix to $18 from $19 and keeps a Buy rating on the shares. The analyst expects the new management team to "swiftly address the communication and manufacturing problems." Enovix now has clear plans for both Fab1, which has already begun to improve yields, and its Gen2 line, which will be approved by the board in March, Souther tells investors in a research note. The anakstt says the company’s revised plan pushes back the Fab2 initial ramp by two quarters, but that he came away from the update call "with a much better feel for the plan and potential obstacles."