Citi Maintains Invesco Hold, $27 PT (IVZ)

Citi affirmed its Invesco IVZ Hold rating and $27 price target in a research report published today.

In the report, Citi states, "Despite the overall AUM beat, we expect the stock to retreat given: 1) strong YTD absolute performance; and, 2) continued disappointing equities volumes juxtaposed against IVZ becoming the sector's repository trade to play the nascent retail flip to equities. Relative performance trends appear mixed across products and geographies, suggesting 2011 is likely to remain a lumpy flow year, we believe."

Shares of Invesco closed Wednesday at $26.50, reflecting no change from Tuesday's market close.