Jefferies Raises Price Target On Invesco (IVZ) On Better Flows

Jefferies raised its price target on Invesco (NYSE: IVZ) from $23.50 to $26 after in-line Q4 results with better than expected flows. The firm maintained their Buy rating.

The firm comments, "IVZ reported 4Q11 adjusted EPS of $0.42. EPS was in line at $0.40 after accounting for a lower tax rate on one-time items. Net long-term flows were significantly better than expected but were mostly into passive funds, with flows into active funds approximately flat. We are raising our EPS estimates and price target on an improved 2012 outlook for the company from the likelihood of stronger performance fees and a lower tax rate."

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 $22.78 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Invesco (IVZ) PT Raised to $39 at TD Cowen
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform