StepStone rises as Wells Fargo initiates coverage with 'overweight'

** Shares of private markets investment firm StepStone Group STEP.O rise 2.1% to $45.67 as Wells Fargo initiates coverage

** Brokerage gives STEP an "overweight" rating and a PT of $55

** Says the firm's strong presence in private wealth puts it in a solid position as demand for alternative investments grows

** 9 of 10 brokerages rate the stock "buy" or higher and 1 "hold"; median PT is $63 - data compiled by LSEG

** STEP down 28.90% YTD