Stem price target lowered to $1 from $4 at Barclays

Barclays lowered the firm’s price target on Stem (STEM) to $1 from $4 and keeps an Equal Weight rating on the shares. The firm views the company’s Q3 earnings call all as a critical opportunity for new management to get out in front of the recent poor performance and give further detail on the newly released strategic review. The analyst still sees Stem’s new fiscal 2024 guidance “as lofty.”