Citi ups Dover target, opens ’90-day positive catalyst watch’

Citi analyst Andrew Kaplowitz raised the firm’s price target on Dover to $184 from $175 and keeps a Buy rating on the shares ahead of Wednesday’s investor meeting. The analyst also opened a "90-day positive catalyst watch" on the shares. Management’s messaging will likely focus on Dover’s "underappreciated through the cycle" sales and earnings growth potential, that, alongside value accretive capital allocation, should support share price appreciation potential, the analyst tells investors in a research note. The rim thinks the investor meeting could help focus investor attention on Dover’s "still favorable value creation potential."