Flowserve price target lowered to $54 from $58 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Flowserve (FLS) to $54 from $58 and keeps a Neutral rating on the shares. The company reported a segment EBIT beat driven largely by the Pumps Division, which saw margins expand 280bps, the analyst tells investors in a research note. Goldman adds however that the management expects margin pressure to materialize more in Q3 and Q4 due to inventory rollover and a timing mismatch in pricing realization.