NEW YORK, June 10, 2013 /PRNewswire/ -- Flowserve Corp. (NYSE: FLS: $168) has been picked by S&P Capital IQ as its Focus Stock of the Week. FLS carries S&P Capital IQ's highest investment recommendation of 5-STARS, or Strong Buy.
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"We believe Flowserve is well positioned to maintain its strong organic growth in its core end markets, while supplementing that growth with strategic 'bolt-on' acquisitions. With oil prices remaining high, major oil companies should continue to ramp up larger projects, while deferred maintenance projects at refineries should pick up later this year, in our view, as companies have postponed these projects due to strong demand for fuel," said Stewart Scharf, equity analyst at S&P Capital IQ.
"We see the company continuing to win new business via its diversified geographic mix and aftermarket strategy, and its ability, in our opinion, to execute on its contracts. We believe Flowserve will also continue operational improvements and shifting manufacturing and engineering to low-cost regions, while monitoring customers and suppliers. We expect additional global opportunities for aftermarket services, as the company maintains response centers close to its customers, and develops long-term relationships."
To view a video of Mr. Scharf discussing FLS click on the following link. Playback/Web Link
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