Invesco downgraded to Hold from Buy at Deutsche Bank (Friday)

Deutsche Bank analyst Brian Bedell on Friday downgraded Invesco to Hold from Buy with a price target of $19, down from $22. The analyst does not see as much upside in the stock over the next 12 months following the recent rally. Invesco is more levered to the equity markets relative to the peers, said Bedell, who assumes equity markets will turn down more than 20% during the first three quarters of 2023. This implies no material upside for Invesco shares over the next 12 months, he wrote.