FLS - Flowserve: Despite Long-Term Potential Shares Likely Offer Limited Upside

2024-04-30 09:20:26 ET

Summary

• Flowserve Corporation's stock has risen 42.8% since January 2023, outperforming the broader market.
• The company reported strong financial performance in Q1 2024, with revenue exceeding analysts' expectations.
• However, the stock is now considered expensive, leading to a 'hold' rating for investors.

One of the most important things that investors can learn is that it's rarely a good idea to chase shares higher. Even if you acknowledge that your stance on the matter has not played out according to plan, jumping in and buying stock because that stock has risen nicely can lead to some pain down the road. Although such pain has not developed yet, I do think that investors of Flowserve Corporation ( FLS ) should be wary about expecting additional upside from here....

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