** Shares of industrial pumps maker Flowserve FLS.N down 2.4% at $78.05 in premarket trading

** TD Cowen downgrades stock to "hold" from "buy"

** Brokerage sees tough setup into results "where outlook likely needs to be lowered"

** Cuts PT to $70 from $85, representing a 12.5% downside to stock's last close

** Says there is an apparent hesitancy to walk back commitments given the progress co had made on track record ahead of the Iran war

** Median PT of 13 brokerages covering the stock is $91 - data compiled by LSEG

** As of last close, stock up 15.3% YTD