Flowserve Corporation (NYSE: FLS) saw its stock soar 8.94% in pre-market trading on Wednesday, following a bullish analyst report from Bank of America Securities. The significant uptick in share price comes as investors react positively to the reaffirmed Buy rating and 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 likely 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.

Adding to the market's focus on Flowserve, recent news of a terminated merger with Chart Industries Inc. may also be influencing investor sentiment. While the direct impact of this development on today's stock movement is unclear, it highlights Flowserve's active position in the industry's M&A landscape. As the market digests these various factors, Flowserve's stock performance will be closely watched throughout the trading session.