RBC Capital raised the firm’s price target on Flowserve (FLS) to $76 from $66 and keeps an Outperform rating on the shares. The firm cites the company’s Q3 beat-and-raise fueled on a perfect storm of positives, including an impressive 11% Q3 operating beat with robust 174% free cash flow and 370bps y/y margin improvement, the analyst tells investors in a research note.
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