Nomura Securities Maintains a 'Buy' on Dover Corp. (DOV); Takeaways From Analyst Meeting
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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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Nomura Securities maintains a 'Buy' on Dover Corp. (NYSE: DOV), PT $81.
Nomuran analyst, Shannon O’Callaghan, says, "We think Dover’s growth drivers have legs that could drive premium growth as sector organic growth slows. At the meeting, Dover highlighted 3 of its Energy businesses and its Knowles communication business (collectively 20% of Dover’s revenues and 30% of segment income), which we see as strong growth drivers unique in the sector. We think all 4 have the potential for 15%+ organic revenue growth, which could be a key to enabling Dover to drive premium organic growth versus the sector. This view does not yet appear to be in the stock, as it trades at a discount to the sector (~14x 2011E P/E vs. sector at ~16x). Our $81 price target represents 16x our 2012 EPS estimate of $5.05."
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 $63.48 yesterday.
Nomuran analyst, Shannon O’Callaghan, says, "We think Dover’s growth drivers have legs that could drive premium growth as sector organic growth slows. At the meeting, Dover highlighted 3 of its Energy businesses and its Knowles communication business (collectively 20% of Dover’s revenues and 30% of segment income), which we see as strong growth drivers unique in the sector. We think all 4 have the potential for 15%+ organic revenue growth, which could be a key to enabling Dover to drive premium organic growth versus the sector. This view does not yet appear to be in the stock, as it trades at a discount to the sector (~14x 2011E P/E vs. sector at ~16x). Our $81 price target represents 16x our 2012 EPS estimate of $5.05."
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 $63.48 yesterday.
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