Oppenheimer analyst Chris Kotowski raised the firm’s price target on Stepstone Group (STEP) to $85 from $83 and keeps an Outperform rating on the shares. The firm notes the company reported strong Q2 adjusted net income per share of 54c versus its 48c and consensus 49c. The beat versus Oppenheimer’s estimates was mainly due to higher than modeled carried interest, which came in at $59M, $11M ahead of its $48M estimate, which is inherently lumpy.
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