T. Rowe Price price target raised to $90 from $89 at TD Cowen

TD Cowen raised the firm’s price target on T. Rowe Price (TROW) to $90 from $89 and keeps a Hold rating on the shares. The firm exits Q1 encouraged by moves to beef up flows into global retirement, active ETF and FI. Yet, the base fee rate is likely to work lower given both mix and vehicle growth, resulting in limited top line and bottom line growth, the latter despite tighter expense mgmt and higher buyback.