Nomura Securities Starts Dover Corp. (DOV) at Buy

After the close, Nomura Securities initiates coverage on Dover Corp. (NYSE: DOV) with a Buy rating and a price target of $81.00.

Analyst Jonathan Wright commented, "With 26% of its 2014 sales coming from upstream O&G markets, DOV was one of the first names in the multi-industry space to react to the fall in oil prices, and the trajectory of that market remains a key driver of its share price. We think that sentiment (and the share price) may be approaching a nadir, with a three-to-one risk / reward skew pointing to an attractive long-term value opportunity. We initiate on DOV with a Buy rating and $81 TP (~16x our 2016 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 $70.50 yesterday.

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