dailyloe.com – Bank of America has reduced its price target for T. Rowe Price Group, citing a difficult start to 2026 for asset managers. The firm lowered its target to $73 from $83 on April 5, 2026. It maintained an Underperform rating on the stock.
The adjustment was part of a broader review of asset management firms ahead of Q1 results. Analysts pointed to macroeconomic indicators suggesting a challenging first half of the year. They stated no companies in the group are positioned for strong quarterly performance.
This follows a similar move by Morgan Stanley earlier in the week. That firm lowered its price target for T. Rowe Price to $107 from $115 on April 1. Morgan Stanley maintained an Equal-Weight rating but expressed a cautious near-term view.
The firm sees more downside risk for traditional asset managers. This persists even with expectations for modest first-quarter earnings beats. The analyst detailed this view in a recent preview note to clients.
T. Rowe Price is a global financial services holding company. It provides investment advisory services across various asset classes. Its clients include individual investors, institutions, and retirement plans.
The stock is listed on the NASDAQ under the ticker TROW. It is often included in lists of blue-chip stocks with high dividends. The company’s performance is closely watched as a bellwether for the asset management sector.[]
Source: Yahoo Finance
