Wells Fargo analyst Finian O’Shea has maintained their bullish stance on IVZ stock, giving a Buy rating yesterday.
Finian O’Shea has given Invesco’s stock a Buy rating due to a mixture of sustained positive inflows and future cash generation potential, despite facing some short-term revenue challenges. The analyst acknowledges that while Invesco has experienced compression in fee rates due to a mix-related slowdown, there are still significant positives such as its diversified asset and geographical inflows, including promising developments in China. Furthermore, there’s an anticipation for a clearer expense outlook for 2024 and a potential resumption of more consistent stock buybacks, which could bolster the company’s financial profile.
While the fourth quarter earnings presented some disappointments, particularly with operating income missing expectations mainly due to a shortfall in management fees, O’Shea sees the overall picture as encouraging. The guidance provided by the company for the coming year was largely as expected, which aids in projecting a margin recovery. Additionally, the dividend forecast suggests a competitive yield. Taking these factors into account, along with a reduced but still attractive price target and earnings per share estimates, O’Shea maintains a positive outlook on Invesco’s stock, warranting a Buy rating.
In another report released yesterday, KBW also reiterated a Buy rating on the stock with a $19.50 price target.
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Invesco (IVZ) Company Description:
Invesco Ltd. engages as an independent global investment management firm. It operates through Investment Management segment. The firm offers a range of single-country, regional, and global capabilities across major equity, fixed income and alternative asset classes, delivered through a diverse set of investment vehicles. The company was founded in December 1935 and is headquartered in Atlanta, GA.
Read More on IVZ:
- Invesco reports Q4 adjusted EPS 47c, consensus 40c
- Invesco Reports Results for the Three Months and Year Ended December 31, 2023
- IVZ Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Invesco price target raised to $17 from $15 at Morgan Stanley
- Invesco price target raised to $16 from $14 at RBC Capital
