Mizuho Securities analyst Brett Linzey maintains $Flowserve (FLS.US)$ with a buy rating, and adjusts the target price from $53 to $65.
According to TipRanks data, the analyst has a success rate of 73.1% and a total average return of 13.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Flowserve (FLS.US)$'s main analysts recently are as follows:
Flowserve is anticipated to continue receiving orders exceeding $1 billion, with the potential for annual margins to surpass the expectations set by management. This outlook is offered in anticipation of the forthcoming earnings season, during which Flowserve, along with other companies, is expected to perform positively.
The firm has adjusted its models for various electrical equipment and multi-industry sectors in anticipation of the Q3 earnings season, taking into account corporate feedback, portfolio updates, channel checks, and incoming data. The reassessment of the target is primarily due to a rise in valuations across the broader group.
In anticipation of Flowserve's Q3 outcomes, several short-term elements are under scrutiny concerning industrial demand. Recent proprietary channel check surveys suggest that distribution partners maintain a relatively stable outlook for domestic demand. However, factors such as inflation, interest rates, and the upcoming U.S. elections are exerting influence on customer sentiment. Furthermore, deflationary pressures, especially from steel, could have a mixed impact—potentially reducing revenue while improving margins and income.
Note:
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