UPDATE: Credit Suisse Downgrades Invesco (IVZ) to Underperform

Credit Suisse analyst Bill Katz downgraded Invesco (NYSE: IVZ) from Neutral to Underperform with a price target of $11.50 (from $13.00).

The analyst comments "Following core 3Q EPS miss (see 10/25 report), mixed 10/25 post-earning release conference call, and sharp negative 4Q22-24 earnings revisions (from our already well below consensus view), as such we downshift our rating from Neutral (N) to UNDERPERFORM. Refreshed thesis centers on too many adverse moving parts that will likely sustain deeper EPS pressure than consensus currently bakes in, with limited expense and capital return flex offsets."

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 $15.05 yesterday.

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