Roth Capital analyst Justin Clare raised the firm’s price target on Stem (STEM) to $23 from $13 and keeps a Neutral rating on the shares. The company delivered a mixed Q3, narrowed guidance ranges, and indicated that Stem is tracking toward the midpoint or better across all metrics, the analyst tells investors in a research note. Stem delivered the second quarter in a row of positive EBITDA as the strategic shift toward recurring software sales, along with cost cuts, have driven margin expansion and improved profitability, Roth added.
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