- UBS analyst Damian Karas upgraded Flowserve Corp FLS to Buy from Neutral and raised the price target to $46 (implying an upside of 29.29%) from $42.
- Karas notes company's expected earnings growth of over 50% through FY23 looks "underappreciated" relative to the risks around supply chain headwinds, ESG unfavorability given its 40% oil and gas exposure, and the macro related stock pressures.
- Karas further adds that Flowserve trades at an 11% discount relative to the market and offers a favorable 4:1 risk return.
- Price Action: FLS shares closed higher by 3.73% at $35.60 on Thursday.
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