Invesco (IVZ) PT Raised to $33 at BMO Capital

BMO Capital analyst James Fotheringham raised the price target on Invesco (NYSE: IVZ) to $33.00 (from $31.00) while maintaining a Market Perform rating.

The analyst commented, "Following IVZ’s 3Q21 beat (lower compensation), we raise our out-year estimates by up to 4%, and we increase our target price to $33 (was $31). IVZ is benefiting from resilient flows across both active and passive strategies, with continued strength in fixed income, ETFs, Private Markets, and China, all while continuing to demonstrate impressive cost discipline. We forecast low-single-digit positive organic revenue growth in our out-year estimates; however, we prefer the higher organic growth potential of alternative asset managers (like APO, KKR, and CG) over traditional asset managers (like IVZ)."

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