Craig-Hallum lowered the firm’s price target on Enovix (ENVX) to $18 from $20 and keeps a Buy rating on the shares. The firm believes Enovix is positioned for its long-anticipated volume smartphone order late in 2025 with whom it thinks is a Chinese handset maker. All-in, Craig-Hallum believes Enovix is positioned for significant revenue growth as battery ASPs continue to increase.
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