Morgan Stanley raised the firm’s price target on T. Rowe Price to $106 from $101 and keeps an Equal Weight rating on the shares. In a Q4 preview for the Asset Managers, the firm said it expects better Q4 earnings given the market rally into year-end boosting fund net asset values, or NAVs. Higher asset under management levels support an improved 2024-25 outlook and the firm also sees scope for a better flow outlook in 2024 as it anticipates a gradual risk re-engagement, the analyst added in the group preview.
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:
- Early notable gainers among liquid option names on January 11th
- T. Rowe Price reports preliminary AUM $1.45T at December 31, 2023
- Wells downgrades T. Rowe Price to sell, upgrades Franklin to neutral
- T. Rowe Price downgraded to Underweight from Equal Weight at Wells Fargo
- T. Rowe Price initiated with an Underperform at TD Cowen