Invesco's fair value estimate has been revised upward from US$32.79 to US$33.96 following a round of analyst price-target increases after the company's Q2 results. Several firms, including TD Cowen, BofA, Barclays, RBC Capital and Morgan Stanley, have raised their price targets on Invesco into a band running from about US$29 to US$39, signaling more confidence in the company's execution. TD Cowen and Keefe Bruyette describe Invesco's platform as increasingly durable, citing net new assets, margins and balance sheet strength, while RBC Capital and Barclays point to Q2 earnings and flow trends as supporting higher valuation multiples. BofA cited an improved view of organic growth when revising its target, though it joined JPMorgan, Barclays, Evercore ISI and Morgan Stanley in keeping Neutral, Equal Weight or In Line ratings. Alongside the fair value change, revenue growth shifted from an 11.74% decline to a projected 6.36% increase, net profit margin was revised from 31.58% to 17.05%, and the future P/E moved from 11.82x to 13.01x, while the discount rate remained at 8.06%.
Invesco PlcAnalysts raised Invesco price targets and fair value to US$33.96 after Q2 results, citing durable platform, net new assets, margins and balance sheet strength.
Bank of America Corp
Barclays PLC
Evercore Partners Inc
Morgan Stanley
Royal Bank of Canada
JPMorgan Chase & Co