Flowserve (FLS) Stronger as Credit Suisse Calls Delays 'Overblown'
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Price: $79.40 -1.94%
Rating Summary:
14 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 12 | New: 26
Rating Summary:
14 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 12 | New: 26
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Flowserve (NYSE: FLS) is trading higher today, following a bullish note from Credit Suisse. The firm maintained its Outperform rating and $150 price target.
Analyst Hamzah Mazari says concerns about delays for oil and gas projects are overblown. Many projects need construction work, which may take several years to complete.
Looking ahead, the analyst sees strong improvement in margins and stock price, which he says sets Flowserve up as a "compelling long-term buying opportunity."
Flowserve is currently trading 4.7 percent higher to $105.80 this afternoon, as volume is solidly above normal.
Analyst Hamzah Mazari says concerns about delays for oil and gas projects are overblown. Many projects need construction work, which may take several years to complete.
Looking ahead, the analyst sees strong improvement in margins and stock price, which he says sets Flowserve up as a "compelling long-term buying opportunity."
Flowserve is currently trading 4.7 percent higher to $105.80 this afternoon, as volume is solidly above normal.
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