Nomura Securities Maintains a 'Buy' on Dover Corp. (DOV); 4Q11 Review
Tweet
Share
E-mailGet Alerts DOV Hot Sheet
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
Join SI Premium – FREE
Nomura Securities maintains a 'Buy' on Dover Corp. (NYSE: DOV) price target raised to $73.00.
Analyst, Shannon O'Callaghan, said, "DOV reported 4Q11 EPS of $1.07 (ex tax benefit) vs our and consensus estimate of $1.03. Guidance of $4.70-$5.00 for 2012 looks like a net underlying increase to us vs the initial framework given Heil Trailer divestiture. Dover’s 4Q was about in line, but we saw several sources of potential upside in the quarter. Energy is benefitting from a shift to oil/liquid; Communication is seeing increased MEMS penetration; Hill Phoenix is gaining share; and we think Semi/Solar markets are bottoming. Management also noted the potential for acquisitions over the next 3-4 months as they continue to shift out of lower-gross margin non-core businesses into higher-gross-margin growth spaces. We are raising 2012E to $5.00, the high end of management’s range, and increasing our PT to $73 (14.5x 2012 EPS)."
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 $60.86 yesterday.
Analyst, Shannon O'Callaghan, said, "DOV reported 4Q11 EPS of $1.07 (ex tax benefit) vs our and consensus estimate of $1.03. Guidance of $4.70-$5.00 for 2012 looks like a net underlying increase to us vs the initial framework given Heil Trailer divestiture. Dover’s 4Q was about in line, but we saw several sources of potential upside in the quarter. Energy is benefitting from a shift to oil/liquid; Communication is seeing increased MEMS penetration; Hill Phoenix is gaining share; and we think Semi/Solar markets are bottoming. Management also noted the potential for acquisitions over the next 3-4 months as they continue to shift out of lower-gross margin non-core businesses into higher-gross-margin growth spaces. We are raising 2012E to $5.00, the high end of management’s range, and increasing our PT to $73 (14.5x 2012 EPS)."
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 $60.86 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- Dover Completes Acquisition of Cloeren
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
