Invesco Ltd (NYSE:IVZ) reported a fourth-quarter earnings beat, driven by stronger revenues and higher margins, according to Goldman Sachs.
The Invesco Analyst: Analyst Alexander Blostein reiterated a Neutral rating and price target of $28.75.
The Invesco Thesis: The company reported adjusted earnings of 62 cents per share, topping consensus of 58 cents per share, “driven by a combination of stronger revenues and encouraging expense management,” Blostein said in the note.
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Invesco posted better-than-expected net management fees and higher performance fees, he added.
The company’s operating margin …