Deutsche Bank Maintains Buy Rating On Invesco

According to Deutsche Bank, Invesco

Buy rating is maintained. Deutsche Bank said that that, given weaker equity markets (S&P 500 ‐1.1% & MSCI‐EAFE ‐2.8%), a FX headwind, and net outflows (driven by the QQQ ETF), slightly offset by mostly positive credit markets and active inflows, Invesco reported slightly lower month‐end AUM in May (‐1.1% sequentially to $661.4B and long‐term AUM ‐1.1% to $586.5B). “Given Invesco's good long‐term performance, broad product and distribution footprint, margin upside, cash flow generation, and attractive relative valuation, we like the risk/reward, and maintain our Buy rating.” Invesco closed yesterday at $22.70.