Citi Neutral on Invesco

Citi Investment Research is out with a research report on Invesco Ltd (NYSE: IVZ) and it has a Neutral rating and a $17 price target on shares.

In a note to clients, Citi Investment Research writes, "According to the WSJ on 10/7, Wilbur Ross is having trouble raising WLR V. Per the article, Mr. Ross has “raised a fraction” of the $4B target, and is now hoping to raise $2B in total, with an extension around the capital raising period. We believe investors have generally discounted a $4B raise either late 2011 or early 2012."

Shares of IVZ lost 67 cents on Friday to close at $16.20, a loss of 3.97%.