Craig-Hallum raised the firm’s price target on Enovix (ENVX) to $16 from $15 and keeps a Buy rating on the shares. The firm believes the company is positioned well to scale production as smartphone battery requirements continue to increase. Enovix is working with 7/8 top smartphone OEMs by volume and is currently sampling with two major smartphone OEMs. Craig-Hallum highlights Enovix’s current results continue to benefit from stronger, higher margin, defense business out of Korea.
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Read More on ENVX:
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