Wells Fargo analyst Finian O’Shea lowered the firm’s price target on T. Rowe Price to $110 from $123 and keeps an Equal Weight rating on the shares. The firm is also cutting EPS estimates on September AUM disclosed at 4.9% below its previous forecast. Recent near-term fund performance improvement and moderation in September outflows bode well, but Q3 flows remained disappointing, Wells adds.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TROW:
- T. Rowe Price reports preliminary AUM $1.35T at September 30
- T. Rowe Price price target lowered to $110 from $113 at Deutsche Bank
- T. Rowe Price price target lowered to $107 from $116 at Jefferies
- T. Rowe Price price target lowered to $109 from $118 at Morgan Stanley
- T. Rowe Price price target lowered to $78 from $83 at BofA