StepStone rises as Wells Fargo initiates coverage with 'overweight'
STEP•StepStone Group shares rose 2.1% after Wells Fargo initiated coverage with an “overweight” rating and a $55 price target. The firm said StepStone’s presence in private wealth positions it well as demand for alternative investments grows.
1. Wells Fargo initiates coverage
Shares of StepStone Group rose 2.1% to $45.67 as Wells Fargo initiated coverage with an “overweight” rating and a $55 price target. Wells Fargo said the firm’s strong presence in private wealth puts it in a solid position as demand for alternative investments grows.
2. Analyst ratings and performance
Nine of 10 brokerages rate StepStone shares “buy” or higher, while one rates them “hold”; the median price target is $63. The shares are down 28.90% year to date.
