Investment manager and advisor T. Rowe Price Group, Inc. (
) saw its rating and price target boosted on Monday by analysts at
FBR Capital Markets.
The firm raised its rating on TROW to "Outperform" from "Market
Perform," and lifted its price target on the stock to $58. That new
target represents a 16% upside from the stock's Friday closing
price of $49.84. FBR Capital cited TROW's relatively low valuation
and solid positioning for the upgrade.
T. Rowe Price shares were mostly flat in premarket trading
The Bottom Line
Shares of TROW have a dividend yield of 2.17%, based on Friday's
closing stock price of $49.84. 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 3.4 out of 5 stars.
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, as well as a detailed explanation of
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