Stepstone Group price target raised to $34 from $27 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Stepstone Group to $34 from $27 and keeps an Equal Weight rating on the shares. The analyst says a “soft landing” and falling rates are somewhat mixed for the brokers and asset management sector. This bodes well for the alternative asset managers despite the recent run in shares, the analyst tells investors in a research note. The firm also realigned its exchange ratings heading into 2024.