Dover named short-term sell idea at Deutsche Bank

Deutsche Bank analyst Nicole Deblase placed a “Catalyst Call: Sell” on Dover as a short-term investment idea. The firm forecasts an earnings miss for Dover and sees “significant downside risk” to 2024 consensus forecasts. It thinks management could guide to $8.85-9.05 in adjusted earnings per share, 4% below the Street at the midpoint. This comes on the back of a flattish organic revenue environment and 10c per share net divestiture dilution, partially offset by $40M of carryover cost cutting benefits, the analyst tells investors in a research note.