Back to main

Susquehanna Starts T. Rowe Price with a “Positive” Rating (TROW)

Posted
7/15/2010 9:02:00 AM
By: Dividend.com
Referenced Stocks:AUM;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.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .