Flowserve Corporation (NYSE: FLS) saw its stock soar 10.05% in pre-market trading on Wednesday, building on the momentum from a bullish analyst report released by Bank of America Securities. The significant uptick in share price comes as investors react positively to the reaffirmed Buy rating and an attractive price target.

In a report released on Tuesday, Bank of America Securities analyst Andrew Obin reiterated a Buy rating on Flowserve, setting a price target of $60.00. This vote of confidence from a major financial institution has sparked renewed interest in the industrial machinery company, driving the pre-market rally. The $60 price target suggests substantial upside potential for Flowserve's stock, attracting both institutional and retail investors.

While the market's focus is primarily on the analyst's bullish stance, recent news of a terminated merger with Chart Industries Inc. may also be influencing investor sentiment. As the trading session progresses, market participants will be closely watching Flowserve's stock performance to see if it can maintain its strong pre-market gains.