TD Cowen raised the firm’s price target on T. Rowe Price to $92 from $90 and keeps an Underperform rating on the shares. The firm’s FY24 and FY25 adjusted EPS estimates are modestly changed following “a low quality” Q4 beat that the firm says “suggests earnings are likely to remain relatively flat” through FY25 given uneven flow, fee rate and margin dynamics.
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