Stem initiated with a Neutral at Piper Sandler

Piper Sandler analyst Kashy Harrison initiated coverage of Stem with a Neutral rating and $6 price target. Stationary storage represents one of the fastest growing sub-sectors within clean energy, the analyst tells investors in a research note. However, the firm sees risks to Stem’s long-term financial targets and looks for a pullback or recalibration of expectations to get constructive on the stock.