On Oct 30, major Wall Street analysts update their ratings for $Flowserve (FLS.US)$, with price targets ranging from $52 to $66.
Goldman Sachs analyst Joe Ritchie maintains with a sell rating, and adjusts the target price from $46 to $52.
BofA Securities analyst Andrew Obin maintains with a buy rating, and sets the target price at $65.
Mizuho Securities analyst Brett Linzey maintains with a buy rating.
Baird analyst Michael Halloran maintains with a hold rating, and adjusts the target price from $60 to $66.
Oppenheimer analyst Bryan Blair maintains with a hold rating.
Furthermore, according to the comprehensive report, the opinions of $Flowserve (FLS.US)$'s main analysts recently are as follows:
Flowserve's third-quarter adjusted earnings per share failed to meet the anticipated figures, and the forecast for the fourth quarter suggests that there won't be a significant improvement in earnings before interest and taxes. Despite these shortcomings, the company's stock still managed to close up 2.3%, an uptick attributed to robust bookings valued at $1.2 billion that surpassed expectations. Additionally, power bookings have seen a 30% increase year-over-year, and there's also a noteworthy 20% rise in the nuclear project pipeline. The company is witnessing a sustained improvement in free cash flow conversion and projects a strong outlook extending into 2025.
The third quarter for Flowserve was generally consistent with forecasts from an operational standpoint. The outlook is becoming increasingly appealing due to a variety of factors such as robust widespread demand, significant orders growth, a growing backlog, improved industry fundamentals, potential margin improvements, enhanced free cash flow conversion, and a balance sheet that may offer more opportunities than currently recognized.
Here are the latest investment ratings and price targets for $Flowserve (FLS.US)$ from 7 analysts:
Note:
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