Morgan Stanley has decided to maintain its Equal-Weight rating of Invesco IVZ and lower its price target from $16.00 to $15.00.
Shares of Invesco are trading up 5.0% over the last 24 hours, at $14.38 per share.
A move to $15.00 would account for a 4.28% increase from the current share price.
Invesco provides investment-management services to retail (65% of managed assets) and institutional (35%) clients. At the end of August 2022, the firm had $1.416 trillion in assets under management spread among its equity (47% of AUM), balanced (5%), fixed-income (22%), alternative investment (14%), and money market (12%) operations. Passive products account for 32% of Invesco's total AUM, including 56% of the company's equity operations and 13% of its fixed-income platform. Invesco's U.S. retail business is one of the 10 largest nonproprietary fund complexes in the country. The firm also has a meaningful presence outside the U.S., with close to one third of its AUM sourced from Canada (2%), the U.K. (4%), continental Europe (11%), and Asia (15%).
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