Stem price target lowered to $11 from $14 at Guggenheim

Guggenheim analyst Joseph Osha lowered the firm’s price target on Stem to $11 from $14 and keeps a Buy rating on the shares following the company’s announcement of $175M convertible debt financing yesterday. While the firm thinks that the deal makes sense, it also thinks that the transaction is "poorly timed" and that Stem could have handled its recent communications more effectively.