While Cautious on Legg Mason (LM), Jefferies Still Positive on Invesco (IVZ)

Invesco (NYSE: IVZ) is bucking the market downtrend and is fractionally higher Monday following positive comments from analysts at Jefferies, which downgraded rival Legg Mason (NYSE: LM) today.

The firm boosted its price target on Invesco from $26 to $31 following a meeting with management of Invesco in Europe last week. "Overall, the outlook for fund flows remains strong and the contribution from various asset classes is expanding. Despite a challenging industry backdrop for flows, IVZ is poised to differentiate itself from peers in 3Q12 and beyond," the analyst said.

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 $25.82 yesterday.

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