2023-07-10 11:43:29 ET
- BMO Capital Markets remains on the sidelines on Invesco ( NYSE: IVZ ) due to limited near-term catalysts, rating the stock Market Perform.
- "We acknowledge IVZ's valuation offers an attractive risk-reward to our fundamentally derived target," said analyst Étienne Ricard, assuming coverage from James Fotheringham. "That said, we see few catalysts considering challenged near-term AUM flows and lack of M&A/shareholder distributions."
- Ricard said Invesco ( IVZ ) benefits from a differentiated passive, private alternatives and onshore China positioning, which should help offset net flow weakness in active public markets longer term.
- Price target was raised to $21 from $15, implying 24.1% potential upside to IVZ's last close.
- Shares of Invesco ( IVZ ), which declined ~5% YTD, rose 2.3% in morning trade.
- Wall Street analysts on average rate IVZ Hold , but SA Quant is bullish on the stock .
- Now read - Invesco: Revisiting Upside, Upgrade To Buy
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Invesco maintained at Market Perform at BMO on limited near-term catalysts