Stem price target lowered to $12 from $14 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Stem to $12 from $14 and keeps a Buy rating on the shares. Despite solid Q4 earnings and "generally upbeat" outlooks heading into 2023, solar and storage equities have underperformed in recent weeks due to increasing concerns around the financing environment and ongoing concerns around the sustainability of growth in the residential sector as macroeconomic uncertainty "continues to loom large," the analyst tells investors in a research note.