Nomura Securities Maintains a 'Buy' on Dover Corp. (DOV); Raising Estimates & PT

Nomura Securities maintains a 'Buy' on Dover Corp. (NYSE: DOV) price target raised from $70 to $72.

Nomura analyst, Shannon O’Callaghan, said, "Growth will likely beat the sector again in 2012, yet the stock trades at a 13% discount on our 2012 EPS estimates. We raise our 2012 EPS estimate from $4.85 to $4.95 and our price target to $72 based on 14.5x our new 2012 EPS estimate. Dover’s Energy markets remain strong and it expects to continue to outgrow the market. In communications, 2012 handset growth are expected to be 22% organically with MEMS units of 1.8B, as Dover’s scale advantage builds further. In semis, the company said it’s not “wedded” to the semi business (less than 3% of revenues) and is open to options."

For an analyst ratings summary and ratings history on Dover Corp. click here. For more ratings news on Dover Corp. click here.

Shares of Dover Corp. closed at $57.51 yesterday.

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