TD Cowen Initiates Coverage On T. Rowe Price Gr with Underperform Rating, Announces Price Target of $88
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Bill Kirk has initiated coverage on T. Rowe Price Group (TROW) with an Underperform rating and set a price target of $88. This new coverage could influence investor sentiment and potentially impact TROW's stock price in the short term.
January 04, 2024 | 6:55 pm
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T. Rowe Price Group has been given an Underperform rating by TD Cowen with a price target of $88, which may affect the stock's performance negatively in the short term.
Analyst ratings can have a significant impact on stock prices, especially when a new rating is initiated. An Underperform rating suggests that the analyst believes TROW will not perform as well as the broader market, which could lead to a decrease in investor confidence and a potential drop in the stock price. The price target of $88 also provides a specific expectation that may be lower than current market prices, further contributing to potential downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100