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Flowserve upgraded to Neutral from Sell at Goldman Sachs

Flowserve upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Joe Ritchie upgraded Flowserve (FLS) to Neutral from Sell with a price target of $69, up from $55. The company has materially improved its operational performance, and end market tailwinds support strong growth over the coming years, the analyst tells investors in a research note. The firm says that over the last two years, it has seen marked improvement not only in the company’s end markets, but also in the company’s execution.

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