Flowserve price target raised to $50 from $45 at TD Cowen

TD Cowen analyst Joseph Giordano raised the firm’s price target on Flowserve to $50 from $45 and keeps an Outperform rating on the shares. The firm said results from the past 3 quarters suggest end-market and more importantly operational momentum is durable and early stage. Order trends and backlog provide deep visibility into next year s growth and margin upside can be powerful over the next several years.