TD Cowen lowered the firm’s price target on T. Rowe Price (TROW) to $112 from $121 and keeps a Hold rating on the shares. The firm said the good news is that the path toward B/E LT NNA outlook continues to improve, however the firm expects the fee rate which missed by 0.5 bps, is likely to trundle lower curbing base organic revenue growth and operating leverage.
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