Invesco price target raised to $18 from $17 at Argus

Argus raised the firm’s price target on Invesco to $18 from $17 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s net long-term inflows were healthy at $6.7B and were positive in three quarters in 2023, but the company continued to face margin pressure from a mix shift to lower yielding products, the analyst tells investors in a research note. Argus adds however that Invesco has the ability to achieve near-industry-average operating margins and thus to approach peer-average valuation levels over time.