Roth Capital analyst Justin Clare lowered the firm’s price target on Stem (STEM) to $11 from $12 and keeps a Neutral rating on the shares. Utility-scale bookings more than doubled sequentially, reflecting improving traction in larger- scale deployments, but total bookings declined both sequentially and y/y, while contracted backlog and CARR declined 9% and 3% y/y, the firm added.
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