Morgan Stanley Has Positive Outlook on Invesco Ltd.

In a report published Thursday, Morgan Stanley analyst Matthew Kelley reiterated an Equal-Weight rating and $40.00 price target on

. In the report, Morgan Stanley noted, “We estimate +$2.7B long-term inflows for IVZ in March (ex -$1.4B outflows from QQQs), bringing our full quarter estimate to +$7.1B (ex -$1.2B from QQQs), both in line with our prior estimates, although January flows slowed slightly m/m. We forecast 0.8% organic growth for IVZ in FY14, including the recent ~$13B Perpetual redemption, and expect trajectory vs this estimate will be the primary driver of the stock.” Invesco Ltd. closed on Wednesday at $35.55.