UBS Maintains a 'Buy' on Invesco (IVZ); Flows Slow But Steady

September 13, 2012 10:59 AM EDT Send to a Friend
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Price: $41.25 +0.98%

Rating Summary:
    10 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 11 | New: 43
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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

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.

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