BUZZ - Wells Fargo initiates coverage on Hamilton Lane with an "Overweight" rating, and the company's stock price rises in response.

October 2 - ** Shares of private market investment management firm Hamilton Lane (HLNE.O) rose 2.5% to $90.80

** Wells Fargo initiated coverage on the stock with an "Overweight" rating and a target price of $103

** Wells Fargo noted that HLNE has a strong presence in private wealth and non-U.S. markets, which could deliver above-average growth

** The broker stated that if the alternative investment market recovers, HLNE will have high potential given its deep foundation in private wealth growth channels

** The stock currently trades at 12.14 times forecasted earnings per share for the next 12 months, well above the sector median of 10.67 times—LSEG data

** Of eight brokers, seven rate the stock as “Buy” or better, and one recommends “Hold”; the median price target is $108.50—compiled by LSEG

** Including today's increase, HLNE has risen 32.80% year to date

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