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Dover price target raised to $145 from $135 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on Dover to $145 from $135 and keeps a Sector Perform rating on the shares. The company reported a "modest" operating miss in Q4, but its constructive outlook spared a rally, the analyst tells investors in a research note. Dover’s free cash flow conversion was below the company Q4 average, but the release of buffer inventory should fuel stronger cash conversion in 2023, the firm adds.

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