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Susquehanna Starts T. Rowe Price with a “Positive” Rating (TROW)
Investment advisor T. Rowe Price Group, Inc. ( TROW ) 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 $48.51.
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 ( AUM ) are in higher yielding equity products."
T. Rowe Price shares were mostly flat in premarket trading Thursday.
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. ( TROW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.