T. Rowe (TROW) Price upgraded
December 10, 2009 9:56 AM
T. Rowe Price Group Inc. (NASDAQ: TROW) was upgraded by an analyst on Thursday, who said the asset manager is poised to grow significantly when more investors jump back into the stock market.
Jefferies & Co. analyst Daniel Fannon raised his rating on the stock to "Buy" from "Hold." He increased his price target to $60 from $54. Shares of T. Rowe Price closed Wednesday at $48.47.
Fannon said in a research note that T. Rowe Price will add to its market share as more customers retched up their investments. Fannon forecasts T. Rowe Price will earn 57 cents per share in the Q4 and $2.53 per share in 2010.
Analysts polled by Thomson Reuters, on average, forecast the asset manager will earn 54 cents per share in the Q4 and $2.38 per share in 2010.
T. Rowe Price Group, Inc. (TROW) is a financial services holding company that provides investment advisory services to individual and institutional investors in the sponsored T. Rowe Price mutual funds and other investment portfolios.
