Stepstone Group upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Benjamin Budish upgraded Stepstone Group (STEP) to Overweight from Equal Weight with a price target of $55, down from $67. While it remains too early to determine the real AI impact to portfolio companies, Barclays lower business development company related earnings on lower flow assumptions and realization, the analyst tells investors in a research note. Barclays upgraded Stepstone, however, saying the company has less exposure to this trend. The share selloff since the end of January has created a more attractive entry opportunity, contends the firm.