Citi Lowers Price Target for T Rowe Price, Still Rates Buy (TROW)

Citi analyst William Katz reaffirmed a Buy rating for T Rowe Price Group TROW, while lowering EPS to $57.00 from $60.00. According to Katz, upsides for T Rowe Price include: "1) TROW well positioned to outgrow sector organically; and 2) buyback likely dominant liquidity/FCF theme" Risks include: "1) less margin upside versus prior expectations; and 2) 2010-2012 consensus estimates are at risk" 2010-2012 EPS estimates were revised downwards to $2.45/$2.68/$3.03 from $2.49/$2.73/$3.12. TROW is currently trading at $49.31.