Three asset managers saw their stock downgraded by analysts.
analyst Marc Irizarry downgraded T. Rowe Price's
stock from "neutral" to "sell," saying the Baltimore firm would see more money exiting than entering its mutual funds this quarter, The Baltimore Business Journal
reports. Meanwhile, Wachovia Capital Management
analyst Douglas Sipkin downgraded
stock from"outperform" to "market perform," pointing to continued challenges for non traditional asset management products and pressure on earnings, Reuters
reports. Also, Sandler O'Neill & Partners
downgraded Janus Capital Group's
"buy" to "hold." The investment bank said investors are increasingly focused on "relative positioning and valuations."
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