Focus Stock: Why You Should Go with Flowserve
Despite adverse global market conditions that will probably continue to affect infrastructure projects through at least 2009, we believe Flowserve (FLS) is well positioned to maintain its strong organic growth in its core end markets for both the original equipment and aftermarket businesses, which consist of oil & gas, power generation, water resources, chemical and general industry. Although oil prices continue to plunge (below $50 a barrel recently), in our view flow control opportunities are generally based on long-term investments. Major oil companies have recently noted that they plan to continue to spend billions of dollars on new projects, while power projects continue to increase in developing regions such as China, India, the Middle East, and Latin America. About two-thirds of Flowserve's business is derived outside of the U.S.
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