Financial services company T. Rowe Price Group, Inc. (
) saw its price target and earnings estimates lowered on Friday by
analysts at Citigroup.
The firm cut its target for TROW shares $57 from $60, citing the
company's recently-reduced EPS guidance. That new target would
represent a 15% upside to the stock's Thursday closing price of
Citigroup also lowered its estimates for TROW through 2011, but
maintained its "Buy" rating.
T. Rowe Price shares fell 35 cents, or -0.7%, in premarket
The Bottom Line
Shares of TROW have a dividend yield of 2.18%, based on last
night's closing stock price of $49.44. 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.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
Created by Dividend.com