Enovix price target raised to $28 from $15 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss raised the firm’s price target on Enovix to $28 from $15 and keeps a Buy rating on the shares. The firm continues to believe Enovix’s battery technology shows massive upside as it continues to see strides toward its mid-2024 production goal. Craig-Hallum also continues to remind investors that Enovix expects samples to come from the Gen-2 line in April 2024. The firm further emphasizes that the company will be installing some Gen-2-line equipment at its plant in Fremont, California and that it believes the company can begin Gen2 line sampling at the end of 2023.