STEM - Stem initiated Buy at Goldman Sachs on solid backlog supporting growth

Provider of smart energy storage networks, Stem ([[STEM]] +8.0%) rides higher on Goldman Sachs Buy initiation with PT $30 indicating a upside of 26.8% from current levels.The networks digitally interconnect energy assets and redistribute, defer, and arbitrage power to provide value for customers.In the past 5 days, the stock has garnered 22.5% while in past 6-months it accumulated 121%.Analyst Brian Lee says that with a "solid backlog supporting strong near-to-medium term revenue growth on the back of secular trends" in renewable energy and battery demand, Stem can grow revenue at 140% annually through 2023.In its latest investor presentation, the company reported $200M of contracted backlog (as of Jan.17, 2021).Clean Energy Technology Convergence: Disruption and Exponential Growth:Last week, the company appointed ex-top company executives for legal chief position and VP, Corporate Development.SA Contributor Scott Pang recently wrote that Stem is at the forefront of the hottest sector in this decade in

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Stem initiated Buy at Goldman Sachs on solid backlog supporting growth