UPDATE: Credit Suisse Reiterates Neutral Rating, Lowers PT on T. Rowe Price Group

In a report published Wednesday, Credit Suisse reiterated its Neutral rating on T. Rowe Price Group

, but slightly lowered its price target from $66.00 to $65.00. Credit Suisse noted, “TROW reported 4Q12 EPS of $0.88, which was 1 cent below our estimate and the consensus of $0.89. Operating income was $5M below our estimate of $366M due to weaker than forecasted mgmt fees, partially offset by lower compensation. Higher investment income drove non-operating income higher, while a lack of share repurchases lead to a higher than expected share count.” T. Rowe Price Group closed on Tuesday at $71.61.