UPDATE: Jefferies Lowers PT on Flowserve Corporation from $133 to $131

Jefferies reiterated a Buy rating on Flowserve Corporation FLS and lowered its price target from $133 to $131. Jefferies remarked, “We are lowering our EPS estimates on 5 stocks FLS, HSC, AIMC, ATU and GRC. These have larger exposures to Europe and have yet to report. We expect the weakness in the Euro over the last month to more adversely affect earnings and guidance than our prior view. We have seen this read through in earnings reports this week. We have not changed our ratings on these stocks.” Flowserve closed at $112.19 on Thursday.