Jefferies Has Buy Rating On T. Rowe Price (TROW)

Jefferies & Co. has a Buy rating and a $75 price target on shares of T. Rowe Price TROW. In a note to clients, Jefferies writes, "During 4Q10, TROW's EOP assets were approx. 4% higher than their average over the same period, setting the company up to continue growing revenues q/q. In this quarter, while global markets were generally volatile, their overall direction remained positive with the S&P 500 closing the quarter up 5.9% and and the MSCI EAFE up 3.4%, respectively. As a result, we now anticipate total revenues of $684M, up 5.6% q/q, and normalized margin expansion of approx. 50 bps q/q to 46.7%. For the quarter our new EPS estimate is $0.77, down slightly from $0.78 previously, reflecting two fewer biling days in the period. However, our full year 2011 EPS estimate increases by $0.02 to $3.35. Results will be reported on Thursday, April 21." Shares of TROW gained 23 cents yesterday to close at $66.42, a gain of 0.35%.