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Credit Suisse Boosts Price Target for T. Rowe Price (TROW)

Posted: 8/30/2010 9:19:00 AM
Referenced Stocks: TROW

Investment services company T. Rowe Price Group, Inc. ( TROW ) on Monday saw its price target raised by analysts at Credit Suisse.

The firm said it lifted its target for TROW from $55 to $56, which represents an expected 24% upside to the stock's Friday closing price of $45.24. Suisse noted that money inflows could decline closer to peers, but long-term flow opportunities remain strong. The analyst currently rates the stock as an "Outperform."

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

The Bottom Line
Shares of TROW have a dividend yield of 2.39%, based on Friday's closing stock price of $45.24. The stock has technical support in the $42-$43 price area. If the shares can firm up, we see overhead resistance around the $51 price level. We would remain on the sidelines for now.

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 .