Dover price target lowered to $170 from $176 at Baird

Baird analyst Michael Halloran lowered the firm’s price target on Dover to $170 from $176 and keeps an Outperform rating on the shares. The company posted modest Q1 operational upside and order trends improved sequentially "at healthy absolute levels," the analyst tells investors in a research note. The analyst sees a positive combination of "more resilient short-term earnings, meaningful long-term optionality, and relative multiple expansion potential." The firm remains a buyer of the stock.