Stepstone Group price target raised to $55 from $52 at Evercore ISI

Evercore ISI analyst John Dunn raised the firm’s price target on Stepstone Group to $55 from $52 and keeps an Outperform rating on the shares. For the alternative asset managers, the firm revised its Q3 estimates down by 4% on average, mostly on lower realizations and net realized performance fees, but adds that “on the bright side,” asset prices were broadly up with equity markets up 4%-9% and fixed income “up strongly as well.”