RBC Capital analyst Deane Dray raised the firm’s price target on Flowserve to $30 from $26 but keeps a Sector Perform rating on the shares. The analyst cites the company’s positive Q4 pre-announcement, noting that its operating income and margins are trending modestly better. The firm maintains its view however that after a "double-miss" in Flowserve Q3 results, the stock has become a "show-me" story.
Published first on TheFly
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