Nomura Securities Maintains a 'Buy' on Dover Corp. (DOV); Takeaways from Management Meetings

Nomura Securities maintains a 'Buy' on Dover Corp. (NYSE: DOV).

Nomura analyst, Shannon O'Callaghan, said, "Dover has moved from a fragmented portfolio to a company driven by a handful of market-leading businesses with cohesion and scale (Dover's 5 growth spaces now represent 70% of earnings). We think the market may be underestimating Dover’s ability to continue to drive premium organic and earnings growth. In particular, we note that Dover is at the sweet spot of oil & gas drilling and production trends. In addition, Dover has done a good job on margins and we think the market may be underestimating the potential. Dover is targeting 17%-18% segment margins by 2013, up from 16.4% in 2010. We think this could move higher with the combination of lower-margin divestitures and higher gross margin acquisitions."

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 $63.70 yesterday.

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