Invesco Posts Mixed 3Q Results Despite Inflows and Market Gains; No Change to $36 Fair Value
There was little in narrow-moat Invesco's third-quarter results that would alter our long-term view of the firm, and we are leaving our $36 per share fair value estimate in place. The company closed out the September quarter with a near record $820.2 billion in total assets under management, up 5.2% sequentially and 8.5% year over year. Total long-term net inflows of $13.2 billion were slightly below our forecast for $13.7 billion in inflows, but did still lift organic growth over the past four ...
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