TD Cowen analyst Joe Giordano downgraded Flowserve to Hold from Buy with a price target of $70, down from $85. The firm sees a "tough setup" into the company's earnings report, saying its outlook likely needs to be lowered. The Iran conflict has changed Flowserve's risk/reward, the analyst tells investors in a research note. TD believes the company will need to factor in some level of impact into its second half of 2026 outlook. It also sees a downward bias to 2027 consensus revenue estimates, saying Flowserve's exposure to energy and the Middle East was supposed to be a sales driver this year.
