Enovix price target lowered to $25 from $30 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Enovix (ENVX) to $25 from $30 and keeps an Overweight rating on the shares. Enovix missed the mark in Q3, reporting a cycle life issue with battery samples that led to a roughly one-quarter qualification push-out with its first smartphone customer, Honor, the analyst tells investors in a research note. Enovix is confident that commercial smartphone production will begin in Q2, Cantor notes, adding that the company is progressing nicely with smartphone OEMs and toward mass commercialization.