Credit Suisse Downgrades T. Rowe Price to “Neutral”; Higher Costs, Lower Inflows (TROW)


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Investment manager T. Rowe Price Group, Inc. ( TROW ) on Thursday caught a big downgrade from analysts at Credit Suisse.

The firm cut its rating on TROW from "Outperform" to "Neutral" with a $66 price target, which suggests a 4% upside to the stock's Wednesday closing price of $63.37.

Credit Suisse noted the company is facing rising costs and lower institutional flows into its accounts.

T. Rowe Price shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of T.Rowe Price Group ( TROW ) have a 2.15% dividend yield, based on last night's closing stock price of $63.37. The stock has technical support in the $57-$60 price area. The stock is trading near the all-time high range of $65-$67 a share.

T. Rowe Price Group, Inc. ( TROW ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: TROW

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