UPDATE: Stifel Nicolaus Raises PT to $157 on Flowserve Corporation; Demand Visibility

Stifel Nicolaus raises its price target from $147 to $157 on Buy-rated Flowserve Corporation FLS as demand looks strong and visible. Stifel Nicolaus comments, "Total bookings are at the highest level in 3.5 years, since the beginning of the last recession. Booking strength reflected growth in chemical, oil & gas, power and general industries markets, with water down. We expect continued strong growth in 2012." FLS closed at $113.49 on Tuesday.