UBS Maintains a 'Buy' on Invesco (IVZ); Flows Slow But Steady
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Price: $34.45 -0.26%
Rating Summary:
7 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
7 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade IVZ Now!
UBS maintains a 'Buy' on Invesco (NYSE: IVZ) price target of $29.00 (from $28.00).
Analyst, Alex Kramm, said, "We estimate that net new flows in August (adjusted for the $1.7bn European CLO disposition and $1.7bn in FX) were ~$2bn (3.6% annualized). Active (~$1bn) saw strength in fixed income ($1.8bn) and balanced funds ($1.3bn) while equities and alternatives were down slightly. In passive (+$1.3bn), equities ($0.4bn) and fixed income ($1.0bn) were both positive. QTD net new asset growth of ~$5.6bn works out to 6.2% annualized, which is exactly in line with our 3Q
forecast."
FY12 EPS estimate raised $0.02 to $1.73 and FY13 from $2.04 to $2.09.
For an analyst ratings summary and ratings history on Invesco click here. For more ratings news on Invesco click here.
Shares of Invesco closed at $24.98 yesterday, with a 52 week range of $14.52-$26.94.
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Analyst, Alex Kramm, said, "We estimate that net new flows in August (adjusted for the $1.7bn European CLO disposition and $1.7bn in FX) were ~$2bn (3.6% annualized). Active (~$1bn) saw strength in fixed income ($1.8bn) and balanced funds ($1.3bn) while equities and alternatives were down slightly. In passive (+$1.3bn), equities ($0.4bn) and fixed income ($1.0bn) were both positive. QTD net new asset growth of ~$5.6bn works out to 6.2% annualized, which is exactly in line with our 3Q
forecast."
FY12 EPS estimate raised $0.02 to $1.73 and FY13 from $2.04 to $2.09.
For an analyst ratings summary and ratings history on Invesco click here. For more ratings news on Invesco click here.
Shares of Invesco closed at $24.98 yesterday, with a 52 week range of $14.52-$26.94.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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