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.
"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 About S&P Capital IQ S&P Capital IQ, a part of the McGraw Hill Financial (NYSE:MHFI), is a leading provider of multi-asset class and real time data, research and analytics to institutional investors, investment and commercial banks, investment advisors and wealth managers, corporations and universities around the world. Evaluated pricing is prepared by Standard & Poor's Securities Evaluations, Inc., a part of S&P Capital IQ and a registered investment adviser with the U.S. Securities and Exchange Commission. S&P Capital IQ provides a broad suite of capabilities designed to help track performance, generate alpha, identify new trading and investment ideas, and perform risk analysis and mitigation strategies. Through leading desktop solutions such as Capital IQ, Global Credit Portal and MarketScope Advisor desktops; enterprise solutions such as S&P Valuations; and research offerings, including Leveraged Commentary & Data, Global Markets Intelligence, and company and fund research, S&P Capital IQ sharpens financial intelligence into the wisdom today's investors need. For more information, visit www.spcapitaliq.com. For more information contact: Marc Eiger, Communications, Tel.: 212-438-1280 firstname.lastname@example.org All information provided by S&P Capital IQ is impersonal and not tailored to the needs of any person, entity or group of persons. Past performance is no indication of future results. S&P Capital IQ and its affiliates provide a wide range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions and financial intermediaries, and accordingly may receive fees or other economic benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address.