Stepstone Group price target lowered to $67 from $85 at Oppenheimer

Oppenheimer analyst Chris Kotowski lowered the firm’s price target on Stepstone Group (STEP) to $67 from $85 and keeps an Outperform rating on the shares as part of a Q1 preview for the alternative asset managers. These companies have the best business models in financial services and perhaps in any industry, the analyst tells investors in a research note.