UPDATE - UBS Initiates Coverage on T. Rowe Price (TROW) with a Neutral; Best-in-Class Franchise at a Hefty Premium
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Price: $108.97 -1.88%
Rating Summary:
3 Buy, 14 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
Rating Summary:
3 Buy, 14 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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UPDATE - UBS initiates coverage on T. Rowe Price (NASDAQ: TROW) with a Neutral rating and $61 price target.
UBS analyst said, "T. Rowe Price stands out as the asset manager that can consistently deliver superior investment performance and flows. However, at 19x estimated FY12 EPS, a ~50% premium to both the peer group and the S&P 500, we believe investors are already paying up for this best-in-class franchise. In addition, we believe investors are increasingly wondering about the long-term sustainability of the company’s narrowly-focused business mix."
"TROW lacks scale and capabilities in some key areas, such as passive/ETFs and alternatives, which could challenge organic growth in the long term. New disclosures in the 401(k) business and recent performance slippage could also create headwinds, particularly as we believe the stock is priced to perfection."
To see more ratings on TROW, Click Here
UBS analyst said, "T. Rowe Price stands out as the asset manager that can consistently deliver superior investment performance and flows. However, at 19x estimated FY12 EPS, a ~50% premium to both the peer group and the S&P 500, we believe investors are already paying up for this best-in-class franchise. In addition, we believe investors are increasingly wondering about the long-term sustainability of the company’s narrowly-focused business mix."
"TROW lacks scale and capabilities in some key areas, such as passive/ETFs and alternatives, which could challenge organic growth in the long term. New disclosures in the 401(k) business and recent performance slippage could also create headwinds, particularly as we believe the stock is priced to perfection."
To see more ratings on TROW, Click Here
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