KBW Previews Third Quarter For Asset Managers (TROW)

Keefe Bruyette & Woods is out with a research report previewing the third quarter on asset managers, T. Rowe Price Group, Inc. TROW. It raised the price target to $56 from $52, but is keeping the Neutral rating on shares. In the research note, KBW describes the risks to TROW. "TROW's assets, revenues, and earnings are highly leveraged to the performance of the equity markets. Also, unexpected deterioration in operating margins could negatively impact earnings and valuation." Shares of TROW gained 7 cents yesterday to close at $51.99, a gain of 0.1%.