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Mizuho Securities Maintains Flowserve(FLS.US) With Buy Rating, Raises Target Price to $65

Futu News ·  Oct 17 19:31  · Ratings

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.

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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:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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