J.P. Morgan Maintains Overweight on T. Rowe Price (TROW)

J.P. Morgan is out with its report on T. Rowe Price TROW, maintaining Overweight on TROW after a solid Q4 10. In a note to clients, J.P. Morgan writes, "T Rowe posted 4Q10 EPS of $0.72, ahead of our $0.70 estimate due to a one-time tax benefit of $0.02. Revenues and expenses were both higher than expected, and offset each other. T. Rowe did have a previously announced $16.4 million charge related to contributions to certain of its money market funds. Overall, the quarter was clean and one that was very much in line with expectations. We maintain our December 2011 price target at $76.00. We maintain our Overweight rating as we see T Rowe as a high quality and well-managed asset manager, that is most likely to benefit from a reengaging retail investor." Shares of TROW closed Friday at $65.85, down 3.26% from Thursday's close.