Jefferies Raises Price Target On Flowserve (FLS) After Strong Q4

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Jefferies raised its price target on Buy-rated Flowserve Corp. (NYSE: FLS) from $131 to $135 following in-line Q4 results.

The firm comments, "4Q11 EPS were in line w/our expectations. But operating income was higher than expected due to broad-based sales growth. Bookings accelerated as late-cycle markets improved. 2012 earnings will be 2H-loaded due to 1H FX expenses but we maintain our EPS estimates given the advancing cycle and reiterate BUY."

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 $120.49 yesterday, with a 52 week range of $66.84-$135.72.

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