UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Flowserve Corporation on 4Q12 EPS

In a report published Monday, BMO Capital Markets reiterated its Outperform rating on Flowserve Corporation

, and raised its price target from $178.00 to $182.00. BMO Capital Markets noted, “Flowserve reported headline 4Q12 EPS of $2.83, which includes $0.01 of realignment charges and $0.01 of below-the-line currency benefit. Sales were 2.2% better than expected, led by IPD and EPD, although adjusted operating margins were lower than expected in all segments. Flowserve reaffirmed 2013 EPS guidance of $9.60-$10.60, with earnings weighted toward 2H13. EPS guidance implies 13%-23% earnings growth on expected revenue growth of mid-single digits, excluding the impact of potential attractive acquisitions.” Flowserve Corporation closed on Friday at $161.30.