T. Rowe Price price target lowered to $98 from $116 at Wells Fargo

Wells Fargo analyst Michael Brown lowered the firm’s price target on T. Rowe Price (TROW) to $98 from $116 and keeps an Equal Weight rating on the shares. The firm says that Q1 results should be decent for the asset managers/brokers group, but the focus is now on what’s to come. In Wells’ coverage, there are few places to hide from the tariff storm. Alts are nearing levels that are tough to ignore, but stocks can overshoot to the downside, the firm adds.