Baird analyst Michael Halloran raised the firm’s price target on Flowserve to $50 from $46 and keeps a Neutral rating on the shares. The firm said Q4 was in-line as booking trends nds are resilient despite project pushouts/limited large projects, while backlog expansion, funnel growth, and management’s positive end market commentary highlight sustainable demand momentum and strong visibility into 2024.
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Read More on FLS:
- Flowserve Corp Announces Q4 2023 Performance Overview
- Flowserve raises quarterly dividend 5%, replenishes buyback to $300M
- Flowserve sees FY24 adjusted EPS $2.40-$2.60, consensus $2.53
- Flowserve reports Q4 adjusted EPS 68c, consensus 60c
- Flowserve Announces Executive Change, Elizabeth Burger Resigns
