T. Rowe Price Upgraded to “Outperform” at FBR Capital (TROW)


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Investment manager and advisor T. Rowe Price Group, Inc. ( TROW ) 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 Monday.

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. ( TROW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: TROW

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