Stem price target lowered to $7 from $9 at TD Cowen

TD Cowen lowered the firm’s price target on Stem to $7 from $9 and keeps an Outperform rating on the shares. The firm expects 3Q results to be broadly in line with the Street’s estimates and the company’s guidance. Investors will be focused on EBITDA profitability which has the potential to flip positive this quarter.