Goldman Sachs analyst Joe Ritchie raised the firm’s price target on Flowserve to $41 from $38 but keeps a Sell rating on the shares. The company reported a Q4 segment EBIT miss, with Flow Control Division segment strenth offset by the miss in the Flowserve Pumps Division, though its bookings of $1.04B marked the 8th consecutive quarter above $1.0B, the analyst tells investors in a research note. The firm remains Sell-rated on “better risk/reward elsewhere” in its coverage, though Goldman Sachs adds that it has also been “impressed with the improved execution”.
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Read More on FLS:
- Flowserve price target raised to $46 from $43 at RBC Capital
- Flowserve price target raised to $50 from $46 at Baird
- Flowserve price target raised to $50 from $48 at Mizuho
- Flowserve Corp Announces Q4 2023 Performance Overview
- Flowserve raises quarterly dividend 5%, replenishes buyback to $300M
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