Market Overview

Jefferies Lowers Invesco (IVZ) Price Target But Likes Long Term Outlook

Share:
Jefferies Lowers Invesco IVZ Price Target But Likes Long Term Outlook

Jefferies & Company analysts Daniel T. Fannon and Surinder Thind maintained their Buy rating for shares of Invesco Plc (NYSE: IVZ) and lowered the price target to $25 per share, down from the previous price target of $27 per share.

The analysts said that Invesco's long term fundamentals were improving, as the company benefited from solid investment performance, better distribution and carefully managed expenses.

However, the analysts also noted that recent market volatility is likely to slow investors' return to equities, as they reassess the level of risk they are comfortable with.

The Jefferies & Company analysts wrote, "Long-term investment performance across many of IVZ's key funds remains solid, with the majority of these funds performing in the top 1/2 of their respective Morningstar category. While this positions the company well to benefit from a longer-term cycle of inflows into equities, we believe the recent volatility in the equity markets will likely slow the rotation into equities as investors re-assess how quickly they wish to move up the risk spectrum. However, longer-term IVZ remains one of our favorite picks as core fundamentals remain strong and financial synergies from the pending Van Kampen acquisition are realized."

Shares of Invesco were up more than 2% at $18.07 per share on Thursday morning.

 

Related Articles (IVZ)

View Comments and Join the Discussion!

Posted-In: Daniel T. Fannon Jefferies & Company Surinder ThindAnalyst Color Price Target Analyst Ratings Movers

Latest Ratings

StockFirmActionPT
TSLAJP MorganMaintains125.0
INTCTruist SecuritiesMaintains64.0
FBTruist SecuritiesMaintains320.0
GSCitigroupMaintains370.0
AAPLCowen & Co.Maintains153.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com