UBS Maintains a 'Neutral' on Flowserve (FLS); Ambling Into The Late Cycle
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Price: $47.19 +2.50%
Rating Summary:
14 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
14 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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UBS maintains a 'Neutral' on Flowserve Corp. (NYSE: FLS), PT increased from $134 to $138.
UBS analyst says, "Momentum in late cycle end markets is building, but slowly. FLS is seeing healthy order growth in its short cycle FCD and IPD units, but still not enough to firm prices. Meanwhile order growth in long cycle EPD remains choppy (flat in 1Q) and better pricing seems far off. We see risk to 2012 estimates from price pressured EPD bookings today weighing on margins, a key driver of
our Neutral rating."
"Our 2011 EPS rises $0.05 to $7.90 mainly to reflect 1Q tax and FX benefits. Our below consensus 2012 EPS falls to $9.00 from $9.15 on heightened concerns that weaker pricing on current period long cycle bookings will impact margins in 2012."
For more ratings news on Flowserve Corp. click here and for the rating history of Flowserve Corp. click here.
Shares of Flowserve Corp. closed at $127.25 yesterday.
UBS analyst says, "Momentum in late cycle end markets is building, but slowly. FLS is seeing healthy order growth in its short cycle FCD and IPD units, but still not enough to firm prices. Meanwhile order growth in long cycle EPD remains choppy (flat in 1Q) and better pricing seems far off. We see risk to 2012 estimates from price pressured EPD bookings today weighing on margins, a key driver of
our Neutral rating."
"Our 2011 EPS rises $0.05 to $7.90 mainly to reflect 1Q tax and FX benefits. Our below consensus 2012 EPS falls to $9.00 from $9.15 on heightened concerns that weaker pricing on current period long cycle bookings will impact margins in 2012."
For more ratings news on Flowserve Corp. click here and for the rating history of Flowserve Corp. click here.
Shares of Flowserve Corp. closed at $127.25 yesterday.
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