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RBC Capital Maintains Flowserve(FLS.US) With Hold Rating, Raises Target Price to $55

Futu News ·  Oct 18 10:32  · Ratings

RBC Capital analyst Deane Dray maintains $Flowserve (FLS.US)$ with a hold rating, and adjusts the target price from $52 to $55.

According to TipRanks data, the analyst has a success rate of 63.3% and a total average return of 14.0% 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:

  • The firm has adjusted various electrical equipment and multi-industry models ahead of the Q3 earnings season to incorporate feedback from corporations, portfolio updates, channel checks, and other relevant data. The revised valuation of the group has led to an increase in the valuations across the sector.

  • In anticipation of the Q3 results for Flowserve, short-term focus is directed towards various factors associated with industrial demand. Recent proprietary channel check surveys suggest a relatively stable domestic demand outlook from distribution partners, despite pressures from inflation, interest rates, and the impending U.S. elections affecting customer sentiment. Deflationary pressures, mainly involving steel within the covered sector, may negatively influence revenue but have the potential to benefit 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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