J.P. Morgan Ups Price Target On Dover (DOV)

J.P. Morgan Chase & Co. raised its price target on Dover Corporation DOV to $59 from $57. It has a Neutral rating on shares. In a note to clients, J.P. Morgan writes, "Stripping out $0.20 of tax, 3Q EPS was a solid 9% beat, though this was below the past five quarters of double digit beats. The beat was entirely in Energy and Tech, while prior quarters were more broad-based. B2B (0.96) was below one for the first time since 3Q09. While it is seasonal in nature (4Q sales tend to be lower), three out of four segments were below one, so this is clearly something to watch in 4Q." Shares of DOV gained 22 cents to $53.40, a gain of 0.4%.