UBS Raises Estimates and Price Target on Flowserve Corp. (FLS); FX vs. Buyback
Tweet Send to a FriendGet Alerts FLS Hot Sheet
Price: $166.84 -0.65%
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade FLS Now!
UBS maintains a 'Buy' on Flowserve Corp. (NYSE: FLS) price target of $146.00 (from $140.00).
Analyst, Robert Barry, raised FY12 EPS estimate from $8.50 to $8.78 and said, "FX adjustments cut $0.13 off our prior 2012 EPS of $8.50, mostly in 2Q, but adjustments for repo activity add $0.41."
Barry also boosted FY13 EPS estimate from $10.40 to $10.75. He sees continued booking momentum and concludes by saying, "We generally think little value is created by firms swapping cash for stock, but think FLS adding leverage to fund buybacks adds value by lowering its cost of capital, more so in this low rate environment."
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 $108.61 yesterday, with a 52 week range of $66.84-$122.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Robert Barry, raised FY12 EPS estimate from $8.50 to $8.78 and said, "FX adjustments cut $0.13 off our prior 2012 EPS of $8.50, mostly in 2Q, but adjustments for repo activity add $0.41."
Barry also boosted FY13 EPS estimate from $10.40 to $10.75. He sees continued booking momentum and concludes by saying, "We generally think little value is created by firms swapping cash for stock, but think FLS adding leverage to fund buybacks adds value by lowering its cost of capital, more so in this low rate environment."
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 $108.61 yesterday, with a 52 week range of $66.84-$122.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Bumps Zumiez (ZUMZ) Numbers Up, But Remains on Sidelines
- Janney Capital Boosts PT on Gap (GPS) Post Q1
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
