Citi lowered the firm’s price target on T. Rowe Price (TROW) to $100 from $120 and keeps a Neutral rating on the shares. The firm lowered estimates for the traditional asset managers to reflect current market levels and currency impacts. The analyst expects the overall flow picture to remain mixed, with positive fixed income and exchange traded fund flows, but active equity headwinds persisting.
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Read More on TROW:
- T Rowe Price Faces Mixed Market Conditions and Declining AUM, Leading to Hold Rating
- T. Rowe Price reports preliminary AUM $1.63T as of February 28
- T. Rowe Price price target lowered to $121 from $126 at Morgan Stanley
- Hold Rating for T. Rowe Price Amid Lowered EPS Projections and Valuation Concerns
- T. Rowe Price reports preliminary AUM $1.65T as of January 31