Stepstone Group price target raised to $61 from $51 at Barclays

Barclays raised the firm’s price target on Stepstone Group to $61 from $51 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the brokers, asset managers and exchanges. The firm believes we continue to get closer to a “normal” market environment, with the initial public market and merger markets “showing signs of life” and rate expectations “driving renewed optimism.” However, Q3 itself has seen softer than expected activity, the analyst tells investors in a research note.