Morgan Stanley downgraded Invesco PlcIVZ
from Overweight to Equal-weight and announceed a $30.00 price target. Morgan Stanley noted, "Downgrading IVZ from Overweight to Equal-weight after in-line 4Q w/ lackluster margin expansion. Despite 10% upside to our price target, we see a balanced risk/reward at 14x 2013e EPS. We think IVZ needs to demonstrate margin expansion to re-rate vs peers, which may not be until 2H13." Invesco Plc closed at $27.25 on Thursday.
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