BofA Securities analyst Andrew Obin maintains $Flowserve (FLS.US)$ with a buy rating, and sets the target price at $65.
According to TipRanks data, the analyst has a success rate of 64.1% and a total average return of 13.2% over the past year.
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 did not meet the anticipated figures, and the implied guidance for the fourth quarter indicates that there might not be a recovery in earnings before interest and taxes. Nonetheless, the company's shares experienced a 2.3% increase. This uptick is ascribed to several positive factors. Notably, the company's bookings significantly exceeded expectations, reaching $1.2 billion. In addition, there was a notable 30% year-over-year increase in power bookings, and the prospects for nuclear projects rose by 20%. The company also demonstrated signs of structurally improving free cash flow conversion and projected a robust outlook leading into 2025.
Flowserve's third quarter performance aligned closely with expectations on an operational level. Looking ahead, the company shows promising growth levers such as robust demand across the board, significant growth in orders, an increasing backlog, favorable long-term trends, potential for margin improvement, enhanced free cash flow conversion, and a balance sheet that may present undervalued opportunities.
Note:
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