J.P. Morgan Chase & Co. has an Overweight rating and a $31.50 price target on shares of Invesco Ltd. (NYSE:

). In a note to clients, J.P. Morgan writes, "We reiterate our Overweight rating on Invesco as we see it both as a multiple expansion story based on improving sales, and an earnings surprise story based, at least partially, on non-management fee income and fee rate. We reiterate our Overweight rating and still see meaningful upside to Invesco's stock price." J.P. Morgan goes on to say, "We are reiterating our Overweight rating as Invesco remains a favorite idea. We see the potential for both earnings upside and multiple expansion, giving Invesco's stock the most potential upside of any of the mid/large cap companies we cover." Shares of IVZ gained 27 cents yesterday to close at $26.02, a gain of 1.05%.