Morgan Stanley analyst Michael Cyprys maintained a Hold rating on T Rowe Price (TROW – Research Report) today and set a price target of $114.00.
Michael Cyprys has given his Hold rating due to a combination of factors impacting T. Rowe Price Group, Inc. (TROW). The decision to maintain an Equal-weight stance stems from adjustments in projected adjusted earnings per share (EPS) for the years 2024 and 2025, reflecting an increase based on higher performance fee revenues following TROW’s fourth-quarter 2023 earnings results.
While the analyst has raised the price target for TROW’s stock by 7.5%, from $106 to $114, the Hold rating indicates that although there are positive signs regarding the company’s financial performance, there are likely other factors or risks considered that prevent a more bullish stance at this time. This balanced view suggests that while TROW is showing signs of strength, its current market position and future prospects are sufficiently reflected in the stock’s current price, warranting a neutral position.
In another report released yesterday, Evercore ISI also maintained a Hold rating on the stock with a $105.00 price target.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
T Rowe Price (TROW) Company Description:
Maryland-based T. Rowe Price Group, Inc. is a global investment management company that provides funds, advisory services, account management, and retirement plans and services. The company offers its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions.
Read More on TROW:
- T Rowe Price Earnings Call: Annual Financial Performance Review
- T. ROWE PRICE GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS
- TROW Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- T. ROWE PRICE GROUP DECLARES QUARTERLY DIVIDEND
- T. Rowe Price raises quarterly dividend to $1.24 from $1.22 per share
