J.P. Morgan Comments On Invesco Month-End Data

According to J.P. Morgan, Invesco (NYSE: IVZ) released its month-end AUM update today and announced 0.1% MoM increase in total AUM.

J.P. Morgan reported that such an increase appears pretty insignificant, especially compared with Franklin, which saw assets up 1.4% for the month. “However, our analysis indicates a strong sales month and ultimately a strong sales quarter for Invesco—the key to multiple expansion. We maintain our Overweight rating on the stock and our Dec 11 price target remains $31.50 per share.”

Invesco closed yesterday at $25.47.