Invesco (IVZ) PT Lowered to $33 at RBC Capital

RBC Capital analyst Kenneth Lee lowered the price target on Invesco (NYSE: IVZ) to $33.00 (from $35.00) while maintaining a Outperform rating.

The analyst comments "2026 expense outlook a focus, but we believe overall impact is slight and we actually revised our expense assumptions downwards. Revising estimates post 4Q, with revised net service & distribution ratio and lower than previous buyback assumptions key factors. Our thesis remains intact -- we still see an improved organic growth outlook and potential incremental margin expansion (to 37%-38% in 2026/2027) due to operating leverage; IVZ continues to make progress on de-leveraging. Maintain Outperform rating and revising PT to $33 (from $35)."

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