Stem price target lowered to $5.50 from $7 at Susquehanna

Susquehanna analyst Biju Perincheril lowered the firm’s price target on Stem to $5.50 from $7 and keeps a Positive rating on the shares. The firm updated estimates for its alternative energy coverage and sees the recent headwinds in the residential segment continuing into at least the first half of 2024 and for utility scale, momentum should continue with some incremental tailwinds.