Stem price target lowered to $2.50 from $6 at BofA

BofA analyst Julien Dumoulin-Smith lowered the firm’s price target on Stem to $2.50 from $6 and keeps an Underperform rating on the shares. $3 per share of the firm’s change in value relates to a negative mark-to-market on peer valuations from the 41% decline year-to-date in the TAN solar ETF, while the remaining 50c in the price target change is attributable to estimate revisions, the analyst tells investors.