Jefferies Has Buy Rating On Invesco Ltd. (IVZ)

Jefferies & Co. has a Buy rating and a $29 price target on shares of Invesco Ltd. IVZ. In a note to clients, Jefferies writes, "IVZ will report March AUM figures on April 11 and 1Q11 earnings on April 27. We anticipate March AUM will equal approx. $642.2B, up modestly from the $641.1B in February. Through Feb average AUM equaled $627.8B, slightly above our previous estimate. However, the combination of two fewer fee days in the quarter, higher payroll taxes in 1Q11 and a slightly less favorable asset mix offset the higher AUM. As a result, we are reducing our 1Q11 EPS estimate by $0.02 to $0.43, but our full year 2011 EPS estimate remains unchanged at $1.88. In fact, given the recent improvement in flows and the favorable trends in global markets we believe there is a positive bias to our estimates for 2011." Shares of IVZ lost 3 cents yesterday to close at $25.56.