Flowserve price target lowered to $85 from $100 at TD Cowen

TD Cowen analyst Joe Giordano lowered the firm’s price target on Flowserve (FLS) to $85 from $100 and keeps a Buy rating on the shares. The Mideast, while a near-term headwind, likely creates a multi-year opportunity for Flowserve upon resolution, the analyst tells investors in a research note. The firm added that, while its FY27 estimates are minimally changed, it believes there were some tactical communication errors this quarter that put the shares in a tough position for now as investors fear future cuts.