Langenberg & Company Upgrades Dover Corp. (DOV) to Buy; Raising Estimates After Ametek Pre-Announcement
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Price: $207.07 +0.20%
Rating Summary:
19 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
19 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Langenberg & Company upgraded Dover Corp. (NYSE: DOV) from Hold to Buy. PT increased from $70 to $75. (Long-Term/3-yr target from $85 to $95.
Langenberg analyst said, "Although this is not my “top pick” in the sector continued end market strength in all things energy (as well as other parts of the portfolio) will likely trump a “near fair value” valuation. The impetus for change in view was Ametek’s pre-announcement on Friday, another company where valuation has kept us on the sidelines. Our models already had that company beating consensus revenue forecast by 6% -- a big number – and they beat that by another 2 points and an EPS beat of 15-17% versus consensus. We can take a hint...we’ve modestly raised our 2011 and 2012 estimates to $4.25 from $4.15 and $4.95 from $4.90 respectively."
For more ratings news on Dover Corp. click here and for the rating history of Dover Corp. click here.
Shares of Dover Corp. closed at $65.32 yesterday.
Langenberg analyst said, "Although this is not my “top pick” in the sector continued end market strength in all things energy (as well as other parts of the portfolio) will likely trump a “near fair value” valuation. The impetus for change in view was Ametek’s pre-announcement on Friday, another company where valuation has kept us on the sidelines. Our models already had that company beating consensus revenue forecast by 6% -- a big number – and they beat that by another 2 points and an EPS beat of 15-17% versus consensus. We can take a hint...we’ve modestly raised our 2011 and 2012 estimates to $4.25 from $4.15 and $4.95 from $4.90 respectively."
For more ratings news on Dover Corp. click here and for the rating history of Dover Corp. click here.
Shares of Dover Corp. closed at $65.32 yesterday.
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