Enovix price target lowered to $33 from $36 at Oppenheimer

Oppenheimer lowered the firm’s price target on Enovix (ENVX) to $33 from $36 and keeps an Outperform rating on the shares. As Enovix moves toward scaling Fab 2 and design-ins with multiple customers, the firm is encouraged to see the company preparing for incremental capacity expansion and ordering long-lead-time items. Oppenheimer also believes the detailed customer conversations and sharing of specs are crucial for Enovix to continue evolving its product roadmap effectively.