Flowserve price target raised to $82 from $65 at UBS

UBS raised the firm’s price target on Flowserve (FLS) to $82 from $65 and keeps a Buy rating on the shares. While the firm’s gut response is to tap the brakes after such an abrupt and much better than expected outcome, aspects of the company’s update should have sustainable impact, including the nuclear opportunity enabling a higher and less cyclical long-term growth rate and asbestos removal supporting a higher valuation multiple, the analyst tells investors in a research note.