Investment advisor T. Rowe Price Group, Inc. ( TROW ) on Friday saw its price target boosted by analysts at Jefferies & Co.
The firm maintained its "Buy" rating on TROW while lifting its price target to $64. That new target suggests a 13% upside to the stock's Thursday closing price of $56.58.
A Jefferies analyst noted that the asset manager's performance in the markets remains a key differentiator among its peers.
T. Rowe Price shares posted modest gains in premarket trading Friday.
The Bottom Line
Shares of T.Rowe Price ( TROW ) have a 2.23% dividend yield, based on last night's closing stock price of $55.65. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $60-$61 price levels.
T. Rowe Price Group, Inc. ( TROW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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