Boenning & Scattergood Starts Flowserve Corp. (FLS) at Neutral

Boenning & Scattergood initiated coverage on Flowserve Corp. (NYSE: FLS) with a Neutral rating.

Analyst Ryan M. Connors said, "Flowserve is a top-tier industrial franchise with leading market positions in its key verticals and a track record of strong operational execution and sound financial management. Unfortunately, the recent collapse in oil prices creates a notable headwind, with the next major data point being the impact on backlog and guidance. In our view, the risks lie to the downside, and we initiate at Neutral."

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 $54.55 yesterday.

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