Wells Fargo Resumes Coverage on Invesco (IVZ) at Market Perform; Attractive But Valuation Fair

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September 6, 2012 4:58 PM EDT
Get Alerts IVZ Hot Sheet
Price: $32.55 +1.24%

Rating Summary:
    9 Buy, 16 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 4 | New: 7
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Wells Fargo resumes coverage on Invesco (NYSE: IVZ) with a Market Perform. PT $27.00.

Analyst, Christopher Harris, said, "With a diversified AUM base and better flow and performance metrics, we think IVZ is well positioned to capitalize on a better outlook for the industry. We argue valuation expansion is warranted given better trends but do not think a multiple meaningfully higher than the industry average is fair...We have established 2012/2013/2014 cash EPS estimates of $1.72/$1.94/$2.21."

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 $23.85 yesterday.

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