Nomura Securities Maintains a 'Buy' on Dover (DOV); Q3 Preview
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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) price target of $70.00.
Nomura analyst, Shannon O'Callaghan, said, "3Q EPS of $1.20 (tax adj) beat our $1.14 and consensus of $1.13 led by Energy. We are big supporters of the way Dover’s current management has been transforming the company and building premium growth platforms in Energy, Communication, Product ID, Refrigeration and Fluid Solutions (over 70% of earnings) and semis (~3% of sales). Sometimes assets like these have cyclical profiles that don’t match up well in our sector despite the attractiveness of the asset. We think if the semi earnings were totally wiped out of the picture the relief on the multiple would actually lead to a higher stock price. Our 2011E goes from $4.44 from $4.50. Dover is trading at less than 11x our 2012 EPS estimate versus our sector at 13x."
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 $52.71 yesterday.
Nomura analyst, Shannon O'Callaghan, said, "3Q EPS of $1.20 (tax adj) beat our $1.14 and consensus of $1.13 led by Energy. We are big supporters of the way Dover’s current management has been transforming the company and building premium growth platforms in Energy, Communication, Product ID, Refrigeration and Fluid Solutions (over 70% of earnings) and semis (~3% of sales). Sometimes assets like these have cyclical profiles that don’t match up well in our sector despite the attractiveness of the asset. We think if the semi earnings were totally wiped out of the picture the relief on the multiple would actually lead to a higher stock price. Our 2011E goes from $4.44 from $4.50. Dover is trading at less than 11x our 2012 EPS estimate versus our sector at 13x."
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 $52.71 yesterday.
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