'Invesco (IVZ) Is Out Top Pick'; PT Raised to $30 at BMO Capital

BMO Capital analyst Brennan Hawken raised the price target on Invesco (NYSE: IVZ) to $30.00 (from $28.00) while maintaining an Outperform rating.

The analyst commented: "Another Preferred Paydown, as the B/S Clean-up Continues; IVZ announced de-leveraging through an agreement with MassMutual of an additional $500mn preferred repurchase, expected to close later this month. We view this positively, as the de-leveraging is a key pillar of our thesis, and the pace is faster than expected. This reinforces our confidence in management's ability to execute on strategic priorities. IVZ is our top pick among traditional AMs."

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