Flowserve price target lowered to $58 from $70 at Mizuho

Mizuho lowered the firm’s price target on Flowserve (FLS) to $58 from $70 and keeps an Outperform rating on the shares. The firm reduced electrical equipment and multi-industry estimates heading into earnings season to account for near-term demand slowing and tariff implications on financial results. While Q1 checks were generally tracking in line, little investor focus is being placed on Q1 “given the influx of recent developments,” the analyst tells investors in a research note. Mizuho says tariff escalation, particularly on China, “will sting.” Corporates are already proactively raising price, but Mizuho expects “some leakage and unmitigated headwinds,” the analyst adds.