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UPDATE: BMO Capital Markets Downgrades Invesco to Market Perform on Valuation

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BMO Capital Markets downgraded Invesco (NYSE: IVZ) from Outperform to Market Perform and maintained a $29.00 price target.

BMO Capital Markets noted, "While valuations for asset managers have increased this year with the overall market, we believe the relative valuation for Invesco makes it a less compelling opportunity, and we prefer a better entry point for new money. Invesco's relative valuation is now in line with historical averages. Its P/E multiple is 86% relative to traditional asset manager peers and 94% relative to the S&P 500, in line with historical medians of 88% and 94%, respectively."

Invesco closed at $27.28 on Monday.

Latest Ratings for IVZ

DateFirmActionFromTo
Dec 2014Credit SuisseMaintainsOutperform
Dec 2014Keefe Bruyette & WoodsMaintainsMarket Perform
Dec 2014BarclaysInitiates Coverage onOverweight

View More Analyst Ratings for IVZ
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

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