Stem price target raised to $9 from $8 at TD Cowen

TD Cowen analyst Thomas Boyes raised the firm’s price target on Stem to $9 from $8 and keeps an Outperform rating on the shares. The firm said Stem is well positioned to benefit from the increasing demand for energy storage solutions. The company’s unified Athena platform is highly differentiated relative to its peers’ and is not just able to support energy storage and solar management applications, but also offers solutions to address the growing EV charging market.