Nomura Securities Maintains a 'Buy' on Dover Corp. (DOV); Looking For Strong Tailwinds in 2013
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Price: $201.92 +1.02%
Rating Summary:
19 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
19 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Nomura Securities maintains a 'Buy' on Dover Corp. (NYSE: DOV) price target of $78.00.
Analyst, Shannon O'Callaghan, said, "We estimate that accretion from already completed acquisitions could contribute an incremental $0.35+ of EPS in 2013, or more than half of the hurdle to consensus. To get the remaining $0.27 of EPS implied in consensus, we estimate Dover would need only around 3% organic growth compared to a 1Q12 rate of 9%. Also, at 0.8x net debt/EBITDA, we estimate Dover has $2bn+ of acquisition firepower, which could add another $0.20+ to 2013 EPS if it was fully deployed in 2012. Despite this, Dover is the cheapest stock in our EE/MI sector at 10.4x our 2013 EPS estimate of $5.60 (17% discount to EE/MI sector)."
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 $58.29 yesterday.
Analyst, Shannon O'Callaghan, said, "We estimate that accretion from already completed acquisitions could contribute an incremental $0.35+ of EPS in 2013, or more than half of the hurdle to consensus. To get the remaining $0.27 of EPS implied in consensus, we estimate Dover would need only around 3% organic growth compared to a 1Q12 rate of 9%. Also, at 0.8x net debt/EBITDA, we estimate Dover has $2bn+ of acquisition firepower, which could add another $0.20+ to 2013 EPS if it was fully deployed in 2012. Despite this, Dover is the cheapest stock in our EE/MI sector at 10.4x our 2013 EPS estimate of $5.60 (17% discount to EE/MI sector)."
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 $58.29 yesterday.
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