e.l.f. Beauty stock plummets 20% as revenue and guidance fall short of expectations
Investing.com - TD Cowen raised its price target on T. Rowe Price (NASDAQ:TROW) to $112.00 from $108.00 on Monday while maintaining a Hold rating on the stock. Currently trading at $100.93, InvestingPro data suggests the stock may be undervalued, with a P/E ratio of 11.19 and an attractive 4.95% dividend yield.
The price target increase follows T. Rowe Price’s expense-led third-quarter earnings beat reported on October 31, with TD Cowen noting it was encouraged by strategic moves to drive efficiencies and improve flows.
TD Cowen indicated that while these strategic improvements are positive, they will likely take time to materialize, with the firm specifically mentioning that October volumes were soft. This cautious outlook aligns with InvestingPro data showing TROW trading at a high PEG ratio of 27.53, despite maintaining dividend payments for 40 consecutive years. Discover more ProTips and comprehensive analysis in TROW’s Pro Research Report.
The research firm’s revised 2026 earnings per share estimate is approximately 5.5% ahead of consensus, which TD Cowen described as "a common sector refrain."
TD Cowen maintained its Hold rating on T. Rowe Price stock, with the new $112 price target representing 10.5 times the firm’s revised 2026 earnings estimate on a discounted basis.
In other recent news, T. Rowe Price Group reported third-quarter earnings and revenue that exceeded analyst expectations. This financial performance has been a focal point for investors, highlighting the company’s strong position. Additionally, the company announced the upcoming departure of Chief Operating Officer Kimberly Johnson, who will leave in December after serving since 2022. Her exit coincides with a strategic reorganization of T. Rowe Price’s technology and operations functions. Ramon Richards, who joined as Chief Technology Officer in 2023, will lead the newly created Technology, Data, and Operations function. Richards will also join the Management Committee, reporting directly to CEO Rob Sharps. These developments mark significant changes in the company’s organizational structure.
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