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Investing.com - Morgan Stanley (NYSE:MS) maintained its Equalweight rating on T. Rowe Price (NASDAQ:TROW), a $23.2 billion asset management firm, while raising its price target to $116.00 from $112.00, representing a 3.6% increase. According to InvestingPro data, the company currently trades at a P/E ratio of 11.8x.
The firm revised its third-quarter 2025 earnings per share estimate upward by 1.3% to $2.52 from $2.49, citing improved operating expenses at the asset management company. This aligns with an InvestingPro observation that 8 analysts have revised their earnings upwards for the upcoming period.
Morgan Stanley also increased its full-year 2025 EPS forecast by 3.5% to $9.46 from $9.14, and its 2026 EPS projection by 3.2% to $10.09 from $9.77.
The adjustments reflect the positive impact of T. Rowe Price’s expense initiatives, which are expected to improve year-over-year expense growth.
The new $116 price target is based on an 11.5x price-to-earnings multiple on the firm’s 2026 EPS estimate for T. Rowe Price.
In other recent news, T. Rowe Price reported its Q2 2025 earnings, with an adjusted diluted earnings per share (EPS) of $2.24, surpassing analyst forecasts of $2.13. However, revenue slightly missed expectations, coming in at $1.72 billion compared to the anticipated $1.73 billion. Morgan Stanley has raised its price target for T. Rowe Price from $112 to $116, reflecting a 3.6% increase, while maintaining an Equalweight rating on the stock. The firm also adjusted its third-quarter 2025 earnings per share estimate upward by 1.3% to $2.52, citing improved operating expenses. These developments indicate mixed outcomes for the company, with positive earnings but a slight revenue shortfall.
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