Oppenheimer raised the firm’s price target on Dover to $177 from $175 and keeps an Outperform rating on the shares. Dover’s Q4 adjusted EPS was ahead of consensus estimates with a modest operational miss aided by favorable below-the-line items, the analyst tells investors in a research note. The firm sees conservatism baked into initial guidance, realistic prospects and magnitude of upside levers going forward, and supportive mid-teens forward P/E valuation.
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