Stem price target raised to $12 from 60c at Susquehanna

Susquehanna raised the firm’s price target on Stem (STEM) to $12 from 60c and keeps a Neutral rating on the shares. The firm updated alternative energy estimates and targets ahead of the Q2 reports. Susquehanna remains cautious on the group due to uncertainty around tariffs and the repeal of subsidy provisions of the Inflation Reduction Act. Given policy and market headwinds, the firm likes companies with a domestic manufacturing presence and “robust backlogs” like First Solar (FSLR) and GE Vernova (GEV).