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UPDATE: Evercore ISI Downgrades T. Rowe Price (TROW) to In Line

October 22, 2021 5:38 AM EDT
Get Alerts TROW Hot Sheet
Price: $123.63 --0%

Rating Summary:
    4 Buy, 11 Hold, 7 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 30 | New: 24
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(Updated - October 22, 2021 5:55 AM EDT)

Evercore ISI analyst Glenn Schorr downgraded T. Rowe Price (NASDAQ: TROW) from Outperform to In Line with a price target of $211.00.

The analyst comments "On TROW, while we’ve been big fans of this great but higher multiple company for a long time, while the stock is up 6% over that same time frame, it has had a stretch of softer flows despite very strong markets & great performance, we’re wary of target-date competition and lofty equity valuations plus some fee compression and higher expenses related to its forward thinking investment spend & the splitting of the company. While some of this is balanced-out by its almost always great performance & a huge and peer-best operating margin to cushion market drops & fund future growth (and some of that is working), we just see more opportunity & growth elsewhere, particularly within the alternative managers."

For an analyst ratings summary and ratings history on T. Rowe Price click here. For more ratings news on T. Rowe Price click here.

Shares of T. Rowe Price closed at $204.62 yesterday.


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