Dover price target raised to $165 from $144 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on Dover to $165 from $144 and keeps an Outperform rating on the shares. The analyst cites the company’s Q4 earnings beat while noting that alleviating supply chain constraints having allowed Dover to work through its backlog. Good visibility also remains into 2023, and it is positive on the stock given Dover’s proven track record of strong operational performance and attractive valuation relative to peers, Baird tells investors in a research note.