Stem price target adjusted to $13 from $1 at Barclays

Barclays analyst Christine Cho raised the firm’s price target on Stem (STEM) to $13 from $1 and keeps an Equal Weight rating on the shares. The firm cites the company’s reverse 20-1 stock split that occurred on June 23 for the target change. Stem reported a solid quarter with strong software growth and improving margins, and the recent debt exchange have eased its near-term liquidity pressure, the analyst tells investors in a research note. However, Barclays believes additional capital may be needed if the company’s profitability doesn’t improve.