Despite its positive view on multi-industry companies, Goldman Sachs downgraded Flowserve Corp FLS, citing free cash flow concerns and aggressive Street expectations. The Analyst Goldman Sachs analyst Joe Ritchie downgraded shares from Neutral to Sell, with a price target of $37, suggesting 12 percent downside. The Thesis There could be further downside for Flowserve stock from current levels despite its 11 percent drop for the year-to-date period, Ritchie said in a note. This, according to the analyst, is due to Street expectations being too aggressive.SourceUpside potential loses its force. $FLS, Flowserve Corporation / H4