Analysts are a tough crowd, especially ones from Zacks Investment Research
. Equities research analysts at the firm last week downgraded shares of T. Rowe Price [see profile]
from an “outperform” rating to a “neutral” rating, American Banking & Market News reports
Analyst Moumita C Chattopadhyay reportedly downgraded the firm "based on rising operating expenses and regulatory headwinds" even though T. Rowe’s fourth quarter 2010 earnings "came in substantially better than the year-ago quarter’s earnings and the Zacks Consensus Estimate" and its "fundamentals remain strong with a debt-free position". Analysts at Wells Fargo & Co.
also reportedly downgraded shares of T. Rowe Price from an “outperform” rating to a “market perform” rating in early January.
However, analysts at Barclays Capital were a friendlier crowd, raising their price target on shares of T. Rowe Price from $69.00 to $71.00 in January. They now have an “equal weight” rating on the stock.
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