Stem price target lowered to $15 from $16 at Cowen

Cowen analyst Thomas Boyes lowered the firm’s price target on Stem to $15 from $16 and keeps an Outperform rating on the shares. The analyst said Stem closed out the year strong despite lingering logistical issues and sluggish utility-scale solar market. Cowen said we would be buyers on any weakness following the slightly more conservative 2023 guidance.