As previously reported, Jefferies analyst Saree Boroditsky upgraded Flowserve to Buy from Hold with a price target of $50, up from $40, citing a constructive outlook for energy investment, margin expansion driven by higher volumes and cost savings initiatives, and accretion from the Velan acquisition. Given strong aftermarket demand, cost savings and productivity initiatives, and “a more rational project bidding environment,” Flowserve should see margin expansion through 2025, the analyst tells investors.
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- Flowserve upgraded to Buy from Hold at Jefferies
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