Investment advisor T. Rowe Price Group, Inc. (
) saw its coverage initiated on Thursday with a "Positive" rating
by analysts at Susquehanna.
The firm also set a $59 price target on TROW, which represents a
potential 22% upside to the stock's Wednesday closing price of
A Susquehanna analyst commented, "TROW is the model of
consistency in the asset management space, with industry-high
organic growth rates and industry-leading margins. The firm will be
a beneficiary of an equity market improvement as 75% of assets
under management (
) are in higher yielding equity products."
T. Rowe Price shares were mostly flat in premarket trading
The Bottom Line
Shares of TROW have a dividend yield of 2.23%, based on last
night's closing stock price of $48.51. The stock has technical
support in the $43-$45 price area. If the shares can firm up, we
see overhead resistance around the $55 price level. We would remain
on the sidelines for now.
T. Rowe Price Group, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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