Nomura Securities maintains a 'Buy' on Dover Corp. (DOV); See More Upside Potential for DOV’s Energy Business

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

Nomura analyst, Shannon O'Callaghan,�says, "Our view that Energy can be a key driver of premium organic growth and earnings upside at Dover gained further support yesterday from Robbins & Myers (RBN) results. We think Dover’s Energy business could surprise on the upside in 2Q. For 2Q, we have modeled 20% organic revenue growth (41% reported including Harbison Fischer), but the RBN results would point to organic growth well in excess of that with the regression suggesting something closer to 50%. Despite premium drivers and upside potential to consensus, Dover trades at a discount to the sector (14.5x our 2011 EPS estimate vs. 16x for sector)."

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 $64.58 yesterday.

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