Bank of America reiterated its Buy rating and a price target of $80 on Dover DOV. In a research report published today, Bank of America reiterated its optimism about the company's outlook.
In the report, Bank of America states, "Dover is relatively volatile industrial company with
limited visibility... Dover is also a complicated company to track which
we think has left the stock unappreciated. We think
new management is on the right track by
establishing a more disciplined acquisitions
framework while pursuing restructuring and
purchasing cost savings. Dover is a good cash
generator which should provide additional flexibility
to pursue M&A opp'ty."
In today's trading, Dover lost 2.15% of its value to trade around $63.19.
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