Flowserve price target lowered to $92 from $97 at Citi

Citi analyst Andrew Kaplowitz lowered the firm’s price target on Flowserve (FLS) to $92 from $97 and keeps a Buy rating on the shares following Q1 results. The firm thinks Flowserve’s stock underperformance reflects overall softer-than-expected revenue performance in Q1 driven primarily by Middle East disruptions, lower book-to-ship work in January-February and 80/20 walkaway. While Citi remains cautious on FY26 organic growth expectation, it thinks encouraging bookings commentary and longer-term nuclear opportunity point to accelerating growth in FY27 and beyond, the firm told investors.