T. Rowe Price initiated with a Market Perform at BMO Capital

BMO Capital analyst Brennan Hawken initiated coverage of T. Rowe Price (TROW) with a Market Perform rating and $108 price target The company faces long-term growth headwinds and persistent competition in the 401(k) market, though itsGoldman collaboration provides a pathway into the wealth channel and the potential to drive expansion for Oak Hill, the analyst tells investors in a research note. With core growth under pressure, BMO is applauding T. Rowe Price’s emerging and more disciplined expense focus, the firm added.