Baird Upgrades Flowserve Corp. (FLS) to Outperform

Baird analyst Michael Halloran upgraded Flowserve Corp. (NYSE: FLS) from Neutral to Outperform with a price target of $71.00.

The analyst comments: "Recent underperformance creates an opportunity to turn more constructive on a company we have had a positive bias on for some time. Earnings power/trajectory is attractive/differentiated, as there is a compelling internally-fueled margin expansion story (margins have a path back to peak levels+… +350-550bps in 2027 vs. 2024), revenue growth should remain at reasonable/healthy levels (strong backlog/funnel), M&A is an upside lever, FCF conversion is improving, and track record of execution has grown stronger. We see a compelling risk/reward ($72-81+ long-term upside vs. ~$40-45 downside) and are buyers."

For an analyst ratings summary and ratings history on Flowserve Corp. click here. For more ratings news on Flowserve Corp. click here.

Shares of Flowserve Corp. closed at $49.00 yesterday.

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